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Australia preferred commercial real estate market in Asia Pacific, says SLI


Standard Life Investments (SLI) expects Sydney and Melbourne office space to be the top performers in Asia Pacific commercial real estate in 2017.

In SLI’s Q1 Real Estate Update, Anne Breen (pictured), head of real estate research and strategy, says she expects another year of healthy economic growth in Asia pacific in 2017 “and another year of attractive returns for Asia Pacific real estate.”
 
However, she warns there will be losers as well as winners in the region this year.
 
“The top performers should be Sydney and Melbourne offices given a resilient Australian economy, while dominant prime regional shopping centres should also perform well. The Tokyo office market is peaking and we expect healthy, but lower returns in 2017 as the new supply-line grows.
 
“Perth offices, Hong Kong office and retail, Singapore office and retail and some mainland China office markets are expected to underperform given high and growing supply, and weakening demand,” she says.
 
SLI also believes that 2017 is likely to be another subdued year for the UK real estate market and that the European real estate cycle is entering a mature phase meaning the strongest market returns have passed.
 
Shifting US policies meanwhile, will affect commercial real estate demand across North America, and there is likely to be increased demand for office and industrial space as companies choose to grow their workforces domestically.

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