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Active local investors dominate Q3 retail transaction volume as they eye potential capital growth

Retail investment activity has been subdued with only 48 completed deals in 2020 compared to the peak of 110 in 2018. However, with the easing of social-distancing restrictions, activity has picked up especially from veteran investors whose activity accounted for almost all the retail transactions concluded in Q3 2021. Unpacking this data further, our latest Colliers Flash reveals that the next six months could provide good timing for investors to bottom-fish. 

To #SeeWhatCouldBe and how you can capitalise on retail asset investment, read our latest report, or talk to an expert today.

This article was originally published in https://www.colliers.com/en-hk

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The report evaluates the demand and potential of Affordable Housing in India by 2030 and speaks about the requisite steps that stake holders should take to meet this demand.

This article was originally published in https://www.knightfrank.co.in/

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Key Occupier Trends

  • Warehouse demand remains firm; net absorption sets new record
  • Supply chain disruption delays decision-making in emerging markets
  • Online retailers and 3PLs drive demand; occupiers strengthen last-mile capabilities
  • Logistics space near transportation hubs keenly sought after

Key Investment Trends

  • Purchasing activity continues to be strong; modern logistics properties remain primary focus
  • More investors commit capital into logistics development funds
  • Logistics capital values continue to rise
  • Well-located older properties offer upgrading opportunities

This article was originally published in https://www.cbre.com/

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Key Trends

  • Purchasing activity continues to be strong
  • Stabilised prime CBD offices remain sought after
  • Solid demand for industrial assets drives further yield compression
  • Selected investors display higher risk appetite for office, industrial and hotel value-added opportunities
  • Banks in major markets remain accommodative; while those in Southeast Asia adopt conservative attitude

This article was originally published in https://www.cbre.com/

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Key trends

  • Retail sales growth slows
  • Many retailers push back expansionary plans to 2022
  • F&B dominates leasing demand
  • Leasing in CBD areas remains limited
  • Pandemic-related risk remains major concern
  • Recovery to regain momentum as festive season nears

This article was originally published in https://www.cbre.com/

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With the scheduled FOMC meeting slated to take place at the start of the month, Asia Pacific stocks were already bracing for a volatile ride from the get-go.

In a widely anticipated move, the Fed affirmed plans to dial back pandemic-era support for the economy, trimming asset purchases by US$15 billion a month. This puts the central bank on track to exit the program by mid-2022.

In the same mold, monetary authorities in South Korea and New Zealand also hiked its policy rates by another 25 basis points. While the moves were largely priced in, it presaged sentiment for the rest of the month.

The detection of the new Covid-19 Omicron variant – which health authorities observed as heavily mutated – sparked a sell off as investors raised alarms on the pandemic’s resurgence and its potential impact on economic growth. The region’s stocks, as measured by the MSCI Total Returns index, fell to its lowest from a year ago.

The region’s REITs were relatively more resilient, shedding 3% during the month to outperformed the region’s wider stock markets.

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Read on for the full updates from APREA’s Q3 2021 Advocacy Bulletin, which includes the following items:

China

  • The NDRC published a further Notice on 29 June 2021. The Notice includes “affordable rental housing” as an eligible asset class.

Hong Kong

  • The FSDC published a paper on “Revitalisation of Hong Kong’s REIT Market” in May 2021.

India

  • Strong comeback for REITs
  • National Monetisation Pipeline (NMP)
  • PFRDA allows pension funds to invest in debt securities of REITs and InvITs
  • India’s first Bad Bank a saviour for distressed assets
  • RBI notifies to allow FPIs to invest in debt securities of REITs and InvITs

Malaysia

  • Malaysia plans major infrastructure projects in H2

Singapore

  • Requirements on Climate-Related Disclosures and Board Diversity Policy Proposed for SGX-Listed Companies
  • Rental Waiver Framework for SMEs and Specified Non-Profit Organisations Affected During Phase 2 (Heightened Alert)
  • Singapore SPACs Listing Framework Takes Effect on 3 September 2021
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New Zealand’s recovery from the impact of Covid-19 got underway in 2021 however by this was derailed in August by the Delta variant, which returned the country into a nationwide lockdown, and resulted in the closure of the trans-Tasman bubble border.
 
Despite the Covid-19 challenges, transaction activity has remained buoyant with $300+ million sales YTD in 2021, characterised by firm yields, unsatisfied capital, and a scarcity of quality purchase opportunities.

This article was originally published in https://www.cbre.com/

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Fukuoka’s residential market remains resilient

  • Fukuoka has been the fastest growing city among major regional cities in Japan.
  • The city’s compact and convenient layout, young demographics, and accommodating attitude towards new ideas attract students, workers, and entrepreneurs.
  • With the leadership of its media-savvy mayor, Fukuoka is striving to become a leading city in Asia with start-ups, digital transformation, and redevelopment.
  • The central areas, such as Tenjin and Hakata, have seen sound demographic growth, and redevelopment projects such as Tenjin Big Bang and Hakata Connected should further help to make these areas attractive.
  • As a major beneficiary of inbound tourism until the pandemic, the progress towards the normalisation of international travel is a welcoming development for Fukuoka.

This article was originally published in https://www.savills.co.jp/

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Following the COVID-19 pandemic in 2020, Australia’s anticipated gradual recovery in 2021 was derailed by the DELTA variant which returned Sydney, Melbourne and Canberra into extended lockdown and border closures nationally.

The lockdowns and associated travel restrictions have activated Australians to become “double vaccinated” with the 80% target to be achieved by December this year, which will then increase to 90%.

Restricted international travel will recommence in Australia in November 2021 and will gradually increase as travel bubbles are initially established, which will inevitably lead to normal international travel.

Despite the COVID challenges, transaction activity has remained buoyant with $1+ billion sales YTD in 2021, characterised by firm yields, unsatisfied capital, and a scarcity of quality purchase opportunities. 

This augurs well for improved conditions in 2022 after the summer break and we would expect that:

  • Domestic leisure will return to key city destinations, having been absent for two years and to experience new hotel inventory
  • Domestic leisure will continue to support the regional drive markets
  • Corporate activity will begin to rebound in Q1 2022 and continue as Australia “gets back to business”
  • International travel will resume and gradually build with IATA expecting that 2019 levels will be reached in 2023/24.

This article was originally published in https://www.cbre.com/

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