For the past several months, much of the economic data for the region has signaled a stabilizing growth trend. For a number of key economic indicators in several of the large and important economies of Asia Pacific, the most recent data (namely Chinese PMI and Japanese exports) releases have tended to surpass expectations. In the property market, the office sector continued to be affected by weakness in financial markets thus far, butthe shortfall of demand was partly offset by take-up from domestic companies. Retail market fundamentals remained generally healthy amid stablelabor markets and buoyant tourist spending. The logistics sector is growing rapidly with e-commerce being the key driver of logistics demand across the region. Governments' restrictive policies continued to cast a shadow on the residential sector, resulting in low transaction volumes in Hong Kong,Malaysia, Singapore and Taiwan. In contrast, strong primary residential sales volumes in a majority of Chinese cities have led to record high prices in many of these cities which helped boost the sentiment of the land market.
Source : CBRE Global Investors