Asia Pacific cities are some of the fastest growing real estate markets in the world, but they have yet to catch up with their European and North American counterparts when it comes to intensity of investment.
JLL’s latest Investment Intensity Index – which compares the volume of direct commercial real estate investment in a city over a three-year period relative to its economic size – reveals that of the top 30 ranked cities, only four are in Asia Pacific: Sydney (eighth), Melbourne (16th), Hong Kong (28th) and Tokyo (30th).
According to the report places like Bangalore, Ho Chi Minh City and Shanghai are racing ahead in their speed of development as real estate markets and has room to grow when it comes to attracting investment proportionate to their gross domestic product (GDP).
“Although the emerging cities of Asia Pacific are attracting an ever greater share of global real estate investment, our latest index shows there is some way to go before they punch their weight in terms of investment intensity,” says Megan Walters, Head of Research, Asia Pacific, JLL.
Read more: The Economic Times