The report from global real estate consultancy Savills showed South Korea captured 22 percent of the region's office property investments in the first three quarters of 2024, while Japan led with 30 percent market share. China, Australia and India followed with 18 percent, 12 percent, and 6 percent respectively.
Office and industrial properties each accounted for 34 percent of total real estate investments in the Asia-Pacific region, significantly higher than the global average where residential properties dominated at 28 percent.
Japan's office investments grew 16 percent year-on-year, while South Korea posted a stronger 18 percent growth, though both markets remain below their pre-pandemic levels when office investments made up 40 to 50 percent of total property investments.
The report highlighted China's slower recovery, citing economic weakness and mounting debt concerns that have prompted global investors to seek opportunities in more established markets outside China.
In contrast, the United States has seen office property transactions drop to 16 percent of total real estate deals, largely due to the widespread adoption of hybrid work arrangements combining remote and office work.
Copyright ⓒ Aju Press All rights reserved.
