Southeast Asian countries are increasingly in the investor spotlight as the economies are benefiting from stronger exports and rising capital investments. This research paper analyses the performance of the Southeast Asia real estate market in 1H17 and provide insights on the market outlook for the next six to twelve months.
Continued improvements in net office take-up
Due to stronger than expected rental growth, we upgraded our office rental forecasts in 2018 for Singapore by 10%. Online gaming operators are contributing to strong office take-up in Manila while technology, fintech and coworking operators are expanding in Jakarta. Marina One, the largest single office development in Singapore that is completing in 3Q17 is now 70% pre-committed.
Rising interest from Chinese and Hong Kong Groups
In Singapore, Hong Kong groups dominated commercial transactions in 1H17. In Indonesia, Vietnam and Philippines, we see rising interest from large-scale mainland Chinese groups looking to tap into Indonesia’s attractive economic and demographic profile.
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