Economic Growth
Inflation
Interest Rates
Expected to peak in 2023 and
over the course of the year.
Expected to peak in mid-2023
ending the steepest U.S. interest
rate hike cycle in history.
Further rate hikes in APAC
this year are likely to be
Yield Expansion
Investment Turnover
Office
Leasing
Yield expansion from the pandemic-era trough has been mild and will remain so in 2023.
Most yield expansion will be
within a range of
Sentiment is expected to improve once there is firm evidence that inflation and interest rates have peaked.
Purchasing will pick up in H2 2023,
but full-year investment volume will
Office flight-to-quality and relocation to green buildings is expected to induce structural demand growth.
Leasing set to ,
led by mainland China.
Office
Market Leaders
Retail Markets
with upside
Logistics
Market Leaders
Seoul
Sydney
Hong Kong SAR
Tokyo
Shanghai
Australian cities
no higher than 100 bps.
gradually trend down
Moderate recession in the U.S.
recovery in China
below-trend growth.
75 to 150 bps
from trough to peak.
decline by a range of 0%-5%.
grow by 5%
while broad-based
set to begin in spring,
led by retail consumption.
Most Asia Pacific markets will see