🌏 Asia-Pacific CRE deals rebound as Hong Kong and mainland China lead

Asia-Pacific commercial property investment rose 22% year on year to US$51.1 billion in Q1, with Hong Kong and mainland China helping drive the rebound. The recovery was led by office and retail activity, while Singapore also posted a sharp pickup.

MSCI-tracked data cited by South China Morning Post showed Hong Kong investment volumes jumping 367% and Singapore rising 439% in the quarter. Mainland China remained the region’s largest market, while corporate and owner-occupier demand supported Hong Kong deal flow.

Why it matters for investors

The figures suggest that capital is returning unevenly across Asia-Pacific, with liquidity strongest where pricing, user demand and policy expectations are aligning. Office and retail assets are again attracting attention, but the data also points to a selective recovery rather than a broad-based rebound, which leaves underwriting discipline central for cross-border buyers.

➡️ Hong Kong and Singapore posted the fastest quarterly gains in the region.

➡️ Mainland China remained the largest market even as sentiment there stayed cautious.

The latest quarter indicates that Asia-Pacific transaction activity is regaining momentum, but the recovery remains concentrated in a handful of markets and asset classes.