CBRE APAC Investor Intentions Real Estate Survey 2024
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



2025 Summits in Hong Kong & Singapore
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.










CBRE APAC Investor Intentions Real Estate Survey 2024: Top 5 Countries Net Buying Intentions are South Korea +15%, Japan +8%, Singapore +8%, Australia +7%, Mainland China +7%, Top 3 Sectors for Investments are Industrial & Logistics, Office, Residential, Top 3 Preferred Alternative Asset are Healthcare-Related Assets, Real Estate Debt & Data Centres

23rd February 2024 | Hong Kong

CBRE, the world’s largest commercial real estate services & investment firm, has released the CBRE APAC Investor Intentions Real Estate Survey 2024, providing key insights from 510 APAC investors on investing in real estate (Investors: Real Estate Fund, Developer, Owner, Operator, REIT, Insurance Company, Private Equity Fund, HNWI,  & Family Office).  For 2024, the Net Buying intentions remain largely unchanged, +6% 2023 vs +5% 2024.  2024 Selling intentions is High.  The Top 6 Countries Net Buying Intentions are South Korea +15%, Japan +8%, Singapore +8%, Australia +7%, Mainland China +7%, Hong Kong -11%.  Top 5 Most Active Investors Type – Family Offices & HNWIs, Institutions, Equity Fund Managers, Developers & REITs, Debt Providers.  Top 5 Investors by Country to increase real estate allocation in 2024 – Australia, South Korea, Mainland China, Singapore, Japan.  Top 6 Reasons to increase allocations to real estate in 2024 – Reasonable price adjustment, More distressed opportunities, Stabilizing interest rates & potential for decreasing debt costs, Mandate to deploy capital, Improved expected total return, Capitalise on potential income return growth.  Top 9 Major Challenges for Real Estate Investment in 2024 – Central bank policy rates remain higher for longer, Fear of a recession & economic uncertainty, Mismatch in buyer & seller expectations, Escalating labour & construction cost, Uncertain geo-political landscape, Weak tenant demand, Shift in credit availability & loan terms, Higher &/or more persistent inflation, Impact of currency fluctuation.  Top 7 Sectors for Investments – Industrial & Logistics, Office, Residential (Multifamily / build-to-rent), Residential (build-to-sell), Hotels / Resorts, Retail, Alternatives.  Top 9 Preferred Alternative Asset for 2024 – Healthcare-related assets, Real Estate Debt, Data Centres, Retirement living & Senior housing, Student living, Cold storage, Infrastructure (social & economic infrastructure), Self-storage.  Top 3 Real Estate Investors Price Expectation for Discount- Grade A Office, Shopping Mall, High Street Retail.  Top 5 Preferred Developed Markets for Cross-Border Investment – Japan, Singapore, Australia, South Korea, Hong Kong.  Top 3 Preferred Emerging Markets for Cross-Border Investment – India, Vietnam, Thailand.  Price premium of ESG assets vs non-ESG asset – 74% (No price premium: 26%).  See below for key findings & summary | View report here

“ Top 5 Countries Net Buying Intentions are South Korea +15%, Japan +8%, Singapore +8%, Australia +7%, Mainland China +7%, Top 3 Sectors for Investments are Industrial & Logistics, Office, Residential, Top 3 Preferred Alternative Asset are Healthcare-Related Assets, Real Estate Debt & Data Centres “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2025 Investment Day
Hong Kong | Singapore
March / July / Sept / Oct / Nov

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place in Hong Kong and in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2025 Family Office Summit
10th April & 16th Oct Hong Kong St Regis | 17th April & 6th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2025 Family Office Summit | Register here


2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





 

CBRE APAC Investor Intentions Real Estate Survey 2024

CBRE APAC Investor Intentions Real Estate Survey 2024

CBRE, the world’s largest commercial real estate services & investment firm, has released the CBRE APAC Investor Intentions Real Estate Survey 2024, providing key insights from 510 APAC investors on investing in real estate (Investors: Real Estate Fund, Developer, Owner, Operator, REIT, Insurance Company, Private Equity Fund, HNWI,  & Family Office).  View report here

 

CBRE APAC Investor Intentions Real Estate Survey 2024:

Investors Profile:

  • Real Estate Fund – 34%
  • Developer / Owner / Operator – 24%
  • REIT – 10%
  • Insurance Company – 9%
  • Private Equity Fund – 7%
  • HNWI / Family Office – 5%
  • Pension Fund – 3%
  • Others – 8%

Investors Country:

  • Japan – 23%
  • Mainland China – 21%
  • Singapore – 12%
  • Taiwan – 11%
  • Australia – 8%
  • Hong Kong – 9%
  • South Korea – 11%
  • India – 1%
  • Others – 5%

 

Summary:

  1. 2024 Net Buying intentions – Unchanged (+6% 2023 vs +5% 2024)
  2. 2024 Selling intentionsHigh 
  3. Top 6 Countries Net Buying Intentions – South Korea +15%, Japan +8%, Singapore +8%, Australia +7%, Mainland China +7%, Hong Kong -11%
  4. Most Active Investors Type – Private Investors, Family Offices & HNWIs 
  5. Top 5 Most Active Investors Type – Family Offices & HNWIs, Institutions, Equity Fund Managers, Developers & REITs, Debt Providers
  6. Top 5 Investors by Country to increase real estate allocation in 2024 – Australia, South Korea, Mainland China, Singapore, Japan
  7. Top 6 Reasons to increase allocations to real estate in 2024 – Reasonable price adjustment, More distressed opportunities, Stabilizing interest rates & potential for decreasing debt costs, Mandate to deploy capital, Improved expected total return, Capitalise on potential income return growth
  8. Top 9 Major Challenges for Real Estate Investment in 2024 – Central bank policy rates remain higher for longer, Fear of a recession & economic uncertainty, Mismatch in buyer & seller expectations, Escalating labour & construction cost, Uncertain geo-political landscape, Weak tenant demand, Shift in credit availability & loan terms, Higher &/or more persistent inflation, Impact of currency fluctuation
  9. Top 6 Major challenges sourcing debt for real estate investment – Less favourable loan-to-value (LTV) ratios &/or credit spreads, Increase in interest expenses on new loans, Uncertainty regarding direction of interest rate movements, Reduced loan size on refinancing as a result of decline in capital values, Lowered interest coverage ratios (ICRs), Tight bank lending approval process

On Real Estate Investment & ESG

  1. Top 7 Sectors for Investments – Industrial & Logistics, Office, Residential (Multifamily / build-to-rent), Residential (build-to-sell), Hotels / Resorts, Retail, Alternatives
  2. Top 9 Preferred Alternative Asset for 2024 – Healthcare-related assets, Real Estate Debt, Data Centres, Retirement living & Senior housing, Student living, Cold storage, Infrastructure (social & economic infrastructure), Self-storage
  3. Top 3 Real Estate Investors Price Expectation for Discount- Grade A Office, Shopping Mall, High Street Retail
  4. Preferred Strategies & Sectors in 2024 – Value-add
  5. Top 5 Value-Add Strategy Preferred Sector – Residential, Industrial & Logistics, Office, Retail, Hotels / Resorts 
  6. Top 5 Preferred Developed Markets for cross-border investment – Japan, Singapore, Australia, South Korea, Hong Kong
  7. Top 3 Preferred Emerging Markets for Cross-Border Investment – India, Vietnam, Thailand
  8. Top 3 ESG evaluation for new investments in 2024 – Retrofit existing buildings to be more energy efficient & ESG-compliant, Acquire & develop green buildings, Enable on-site renewable energy generation
  9. Price premium of ESG assets vs non-ESG asset – 74% (No price premium: 26%)
  10. Top 3 Factors on Desired office locations in the next 3 years (To increase) – ESG-certified buildings 64%, Flexible or cowering spaces 52%, Decentralised offices 36%

 

 

1) Investors Buying & Selling intentions in 2024

2024 Buying & Selling intentions:

  • Net buying intentionsUnchanged (+6% 2023 vs +5% 2024)
  • 2024 Selling intentionsHigh 

Net Buying Intentions (Last 10 years):

  • 2015: +23%
  • 2016: +1%
  • 2017: +6%
  • 2018: +3%
  • 2019: +6%
  • 2020: +13%
  • 2021: +25%
  • 2022: +24%
  • 2023: +6%
  • 2024: +5%

Top 6 Countries Net Buying Intentions:

  1. South Korea: +15%
  2. Japan: +8%
  3. Singapore: +8%
  4. Australia: +7%
  5. Mainland China: +7%
  6. Hong Kong: -11%

Investors Insights:

  • More than 40% of investors intend to sell assets in 2024 to realise returns & repay debt
  • Selling intentions strongest in Australia, Singapore & Hong Kong
  • Buying intentions strongest in South Korea, Japan & Singapore 
  • Buying intentions weakest in Hong Kong
  • Hong Kong economy expected to recover in 2024 supported by stronger growth in Mainland China & potential interest rate cuts
  • Weak buying intentions from Mainland China investors 

Top 5 Most Active Investors Type:

  1. Private Investors, Family Offices & HNWIs – Core prime assets in tier 1 markets, Opportunistic, Value-add deals
  2. Institutions – Risk adverse & await for price adjustments, Focus on Core-plus opportunities in office & industrial space to achieve target returns
  3. Equity Fund Managers – Challenging to raise new funds, Private equity funds with expiring mandates to be active in 2024 with focus on Japan
  4. Developers / REITs – Hard to get bank financing, Need to sell to fund development projects, APAC REITs not recovering yet, United States REITs early signs of recovery 
  5. Debt Providers – Insurance companies & Private equity funds expands in APAC to capitalise on current market conditions

Investors by Country to increase Real Estate Allocation in 2024:

  • Australia – More than 53% of investors to increase allocation
  • South Korea – Around 50% of investors to increase allocation
  • Mainland China – Around 42% of investors to increase allocation
  • Singapore – Around 39% of investors to increase allocation
  • Japan – Around 37% of investors to increase allocation
  • Hong Kong – Around 27% of investors to increase allocation

Top 6 Reasons to increase allocations to Real Estate in 2024:

  • Reasonable price adjustment – 23%
  • More distressed opportunities – 17%
  • Stabilizing interest rates / Potential for decreasing debt costs – 14%
  • Need / mandate to deploy capital – 14%
  • Improved expected total return – 11%
  • Capitalise on potential income return growth – 7%

9 Major Challenges for Real Estate Investment in 2024:

  1. Central bank policy rates remain higher for longer 
  2. Fear of a recession & economic uncertainty
  3. Mismatch in buyer & seller expectations
  4. Escalating labour & construction cost
  5. Uncertain geo-political landscape 
  6. Weak tenant demand
  7. Shift in credit availability & loan terms
  8. Higher &/or more persistent inflation
  9. Impact of currency fluctuation

Top 6 Major challenges sourcing debt for real estate investment:

  1. Less favourable loan-to-value (LTV) ratios &/or credit spreads
  2. Increase in interest expenses on new loans
  3. Uncertainty regarding direction of interest rate movements
  4. Reduced loan size on refinancing as a result of decline in capital values
  5. Lowered interest coverage ratios (ICRs)
  6. Tight bank lending approval process

Expected direction of central bank policy rates in 2024 (Majority of respondents):

  • Mainland China – Reduce less than 50 bps 
  • South Korea – No change or Reduce less than 50 bps 
  • Hong Kong – No change or Reduce less than 50 bps 
  • Singapore – No change
  • Australia – No change or Increase by less than 50 bps
  • Japan – Increase by less than 50 bps

 

2) Preferred Investment Strategies & Sectors

Top 7 Sectors for Investments:

  1. Industrial & Logistics 
  2. Office
  3. Residential (Multifamily / build-to-rent)
  4. Residential (build-to-sell)
  5. Hotels / Resorts
  6. Retail
  7. Alternatives

Top 9 Preferred Alternative Asset for 2024:

  1. Healthcare-related assets (including life sciences & medical offices)
  2. Real Estate Debt
  3. Data Centres 
  4. Retirement living / Senior housing 
  5. Student living 
  6. Cold storage 
  7. Infrastructure (social & economic infrastructure) 
  8. Self-storage

Investors Price Expectation for Discount:

  • Grade A Office (value-add) – 65% of investors expect discount 
  • Grade A Office (core) – 61% of investors expect discount 
  • Shopping Mall – 57% of investors expect discount 
  • High Street Retail – 51% of investors expect discount 
  • Prime Logistics – 49% of investors expect discount 
  • Multifamily – 36% of investors expect discount 
  • Hotel – 35% of investors expect discount 

Preferred Strategies & Sectors in 2024:

  1. Value-add
  2. Core-plus
  3. Core
  4. Opportunistic 
  5. Distressed assets & NPL
  6. Debt

Value-Add Strategy Preferred Sector:

  1. Residential 
  2. Industrial & Logistics 
  3. Office
  4. Retail
  5. Hotels / Resorts 
  6. Others

Core-Plus Strategy Preferred Sector:

  1. Residential 
  2. Industrial & Logistics 
  3. Office
  4. Retail
  5. Hotels / Resorts 
  6. Others

Core Strategy Preferred Sector:

  1. Office
  2. Industrial & Logistics 
  3. Residential 
  4. Hotels / Resorts 
  5. Retail
  6. Others

Opportunistic Strategy Preferred Sector:

  • Industrial & Logistics 
  • Residential 
  • Office
  • Hotels / Resorts 
  • Others
  • Retail

Distressed assets & NPL Strategy Preferred Sector:

  1. Residential 
  2. Industrial & Logistics 
  3. Office
  4. Retail
  5. Hotels / Resorts 
  6. Others

Debt Strategy Preferred Sector:

  1. Residential 
  2. Industrial & Logistics 
  3. Others
  4. Office
  5. Hotels / Resorts 
  6. Retail

 

3) Investment Destination

Top 5 Preferred Developed Markets for Cross-Border Investment (Key strategy):

  1. Japan – Core to Value-add
  2. Singapore – Core to Value-add
  3. Australia – Core to Opportunistic
  4. South Korea – Core-plus to Value-add
  5. Hong Kong – Core-plus to Opportunistic

Top 3 Preferred Emerging Markets for Cross-Border Investment (Key strategy):

  1. India – Value-add to Opportunistic
  2. Vietnam – Opportunistic
  3. Thailand – Value-add to Opportunistic

 

 

4) ESG & Commercial Real Estate Investment

Top 10 ESG evaluation for new investments in 2024 (No. of Respondents):

  1. Retrofit existing buildings to be more energy efficient / ESG-compliant – More than 60%
  2. Acquire / develop green buildings – Around 55%
  3. Enable on-site renewable energy generation (eg. solar) – More than 40%
  4. Install EV car chargers – Around 38%
  5. Consider climate risk for new acquisitions – Around 30%
  6. Access to green financing / loans / bonds – Around 30%
  7. Incorporate green lease – Around 27%
  8. Invest in or develop socially responsible housing (eg. economic housing, senior housing) – Around 18%
  9. Dispose aged, non-green assets – Around 17%
  10. Do not factor ESG in investments – Around 10%

Price premium of ESG assets vs non-ESG asset (No. of respondents):

  • No price premium – Around 26% (74% price premium)
  • Less than 5% premiumAround 43%
  • 6% to 10% premium – Around 24%
  • 11% to 15% premium – Around 5%
  • 16% to 20% premium – Around 1%

Desired office locations in the next 3 years (To increase):

  • ESG-certified buildings – 64% 
  • Flexible or cowering spaces – 52%
  • Decentralised offices – 36%
  • Grade A CBD offices – 30%
  • Grade A offices in major districts outside CBD – 28%
  • Grade B CBD offices – 24%

Desired office locations in the next 3 years (To reduce):

  • Grade B CBD offices – 31%
  • Grade A offices in major districts outside CBD – 25%
  • Grade A CBD offices – 20%
  • Decentralised offices – 18%
  • Flexible or cowering spaces – 12%
  • ESG-certified buildings – 3% 

 

 

The CBRE APAC Investor Intentions Real Estate Survey 2024, providing key insights from 510 APAC investors on investing in real estate (Investors: Real Estate Fund, Developer, Owner, Operator, REIT, Insurance Company, Private Equity Fund, HNWI,  & Family Office).  View report here

 

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. 




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 17th Oct2024 Investment Day Singapore 7th Nov2024 Family Office Summit Hong Kong 17th Oct2024 Family Office Summit Singapore 7th Nov2025 Events












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • July 2024 - Hong Kong
    • July 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Oct 2024 - Hong Kong
    • Nov 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014