Belgravia Ace layout

The Urban Land Institute (ULI) predicts a rapid recovery in the economy of the residential real estate sector within Hong Kong, Singapore, China and Japan in the coming three years.

Belgravia Ace layout is designed to make sure you stay in a relaxed environment and move smoothly throughout the neighbourhood.

“The Asia Pacific real estate industry is set to see a revival in 2022. We are confident that it will gain momentum in 2023. This is evident in the robust economic outlook, backed by a possible resumption of trans-border commerce as well as a more extensive openness to the borders” declares David Faulkner who is director of ULI Asia Pacific.

In its most recent semi-annual Real Economic Forecast for Real Estate publication on the Asia Pacific region, the non-profit research institute states that the occupancy rate of offices in Singapore will likely to rise between 2022 and 2023 as compared with Hong Kong, Shanghai, and Tokyo which are predicted to see a slight decline.
The cost of office space in Singapore can rise by between 4.6% and 5% in between the two next years. The market for office space in Singapore is also a leader in the region, with office rents expected to increase by 9.65% in 2022 before being followed by a lower 6.75% in 2023.

In comparison, Hong Kong and Tokyo will likely to see record record office rental incomes in the range of 5.4% and 6.28% for 2023, respectively, following only modest gains in the year prior.

The logistics industry is predicted to be suffering due to a structural shortage of top-quality assets. This is due to the increased demand because of increasing growth in online commerce sector. However, capitalisation rates are high this year, including Hong Kong at 3.46%, Singapore at 6.15%, Shanghai at 5% along with Tokyo with 3.5%.

ULI also anticipates that the retail sector to suffer another major contraction in the next year. It could then be followed by a steady improvement in the coming two years, as the disease is controlled and travel restrictions eased. In Singapore retail rents may rise to 1.5% in 2023.

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