APAC property sector to increase by 15% in 2022
Asia Pacific’s (APAC) property segment is projected to reach $200 billion next year, up 15% from the full-year 2021 estimate of $162 to 169 billion, said global real estate consultant JLL.
JLL Asia Pacific Chief Executive Officer Anthony Couse stated that this recovery will be mainly due to investors that are maintaining their ”bullishness and leasing activity” in the region.
Additionally, the anticipated rise will also be driven by the increasing demand for modern logistics facilities and alternative sectors — like data centers and life sciences — in APAC.
A 13% increase in supply to 6.9 million square meters (sqm) will likely be seen in the region, while net absorption levels will climb up by 20% because of the expansion of financial, technology, and flexible space operators.
Meanwhile, in the Philippines, JLL said that the office market will be in “full recovery mode” by the second half of 2022 due to its robust IT-Business Process Outsourcing (BPO) industry.
