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概括： 世邦魏理仕最新發表的亞太租賃市場情緒指數顯示，2025年第三季大多數市場和產業的整體租賃情緒有所改善：

辦公室： 隨著貿易緊張局勢緩解和辦公場所出勤要求收緊，租戶信心正在增強。除中國大陸以外，所有市場均報告租戶諮詢和考察量增加。整體擴張情緒主要由印度和北亞市場推動。與世邦魏理仕2025年亞太區辦公大樓租戶調查結果一致，越來越多的租戶要求辦公大樓地理位置優越，配套設施一流。.

零售業：全球貿易政策的明朗化增強了零售商的信心，除新加坡外，大多數市場的詢價和實地考察活動均有所增加。印度和韓國強勁的需求為業主提高租金預期提供了基礎。然而，不斷上漲的營運成本促使零售商重新審視其門市組合，並評估是否需要搬遷業績不佳的門市。.

工業與物流： 隨著貿易前景趨於穩定，詢價和實地考察活動日益增多，為潛在的復甦奠定了基礎。包括印度和東南亞在內的成長型市場仍保持韌性，而日本和韓國的市場情緒也因供應壓力緩解而走強。儘管需求有所回升，但由於租戶在談判中比房東擁有更強的議價能力，租金成長前景依然有限。.

Co-produced by Vistra Fund Solutions and APREA

The APAC real assets market is full of potential, but also operational, tax, and regulatory friction. This exclusive report reveals where the biggest opportunities lie, what’s holding investors back, and how leading firms are navigating the complexity.

Inside the Friction Index 2025:

• Which APAC markets and asset classes are attracting institutional capital
• Where investors face the highest levels of friction and why
• How leaders use outsourcing, AI, and tech to gain a competitive edge
• The trends redefining real assets: ESG, AI, and regulatory shifts

India is undergoing a dramatic demographic shift that presents both unprecedented opportunities and significant challenges for the senior living sector. The country’s senior population is projected to more than double from 156.7 million in 2024 to 347 million by 2050, representing 21% of the total population. This transformation is driving substantial growth in the senior living market, which is currently valued at INR 15,500 crore (USD 1.8 billion) and expected to expand to INR 64,500 crore (USD 7.7 billion) by 2030.

Despite this promising growth trajectory, the market remains severely undersupplied and in its early stages. With only 1.3% penetration compared to mature markets like the US and Australia that exceed 6%, India’s senior living sector has vast untapped potential. The current supply of approximately 20,000 units falls dramatically short of the estimated demand of 2.27 million households by 2030, highlighting the enormous opportunity for developers, operators, and investors in this rapidly evolving sector.

概括： Colliers’ Global Capital Flows Report (September 2025) highlights cautious but steady growth in real estate investment activity worldwide, with Asia Pacific maintaining a leading role despite global headwinds.

主要亮點包括：

• Singapore, Japan, and Hong Kong ranked among the top 10 global sources of cross-border capital.
• Japan and Australia remain top global capital destinations, reflecting sustained investor confidence.
• Office and retail sectors are leading the regional recovery, with office assets reclaiming the top spot in transaction volumes.
• Land-led development continues to dominate, with seven of the top 10 global destinations located in APAC.

2025 年上半年，亞太地區大部分市場的房地產投資主要由國內投資者推動，而海外投資者對澳洲、印度、新加坡和香港等主要樞紐市場的興趣依然濃厚。.

在較低的利率環境、溫和的通膨和主要市場持續的經濟成長的支持下，該地區的投資前景預計將在 2025 年及 2026 年保持穩定和韌性。.

主要見解：

• 辦公大樓仍然是首選資產類別，零售物業的成長速度正在加快。.
• 韓國、日本和澳洲貢獻了近三分之二的投資額。.
• 投資者對資料中心、生命科學和學生公寓等另類資產類別的需求日益增長。.
• 本地投資者信心日益增強，凸顯了整個地區的韌性。.

隨著工作場所模式的不斷變化，亞太地區的企業正在加快員工重返辦公室的步伐，並提升工作場所體驗。.

世邦魏理仕發布的《2025年亞太地區辦公大樓租戶調查報告》匯集了近300位企業房地產主管的真知灼見，重點指出：

• 工作效率： 空間不足的小房間（48%）和缺乏活力（35%）仍然是主要挑戰。調整工作站尺寸和辦公桌共享比例有助於提高效率。.
• 更嚴格的考勤制度： 82% 的租戶現在對不合規行為施加後果（年增 16 個百分點），預計 2025 年辦公大樓利用率將有所提高。.
• 核心及品質偏好： 規模較小的公司展現出最強烈的成長意願。計劃搬遷的租戶中有 65% 傾向於選擇中央商務區核心地段，但大部分空置房源位於非核心區域。.