2022年亚太区房地产市场资本流动报告英文版

CBRE IntelligentInvestment 2022AsiaPacific RealEstateCapitalFlows REPORTFIGURES Inboundand Outbound InvestmentTrends CBRERESEARCH MAY2023 2022AsiaPacificIn&Out AmericasEMEAAsiaPacific CBRE Us$5.8BUss8.1BUS$16.1BUSS2.2B OutboundcapitalInboundcapital fromAsiaPacific -75%-48%+22%+0.7% toAsiaPacific 1-0-y V-0-Y y-o-y uss21.9B Uss10.4B -40%-48% y-o-yy-0-y NetOutflow Us$11.5B InboundtoAsiaPacific OutboundfromAsiaPacificSource:MSCIRealCapitalAnalytics,CBREResearch,May2O23 2.22A:ixFxuili.PdEstaltCizl[l.IPuw*.sJI: Highlights AsiaPacificIn&Out AsiaPacificinvestmentoutsidetheregion Uss21.9billion (2022)40%Y0y lmnclawssLhecnyrnar<e.irAsiaPacilic toattractmareinterraticnalcopitelin 20z>comparedtotheprovicusycar. 2) Wailesingaporerenairstheoiggest 'DI.ORJPISyIPcROJOaGInO: investmenthalvedtron2021. (122%yGY) TopThreeDestinations 2 Us(u$55.6bIlon) (A-O-A%SL-) 3Enaln(usshihillony OUT TopThresDestinations Japan(Us$3.5billisn) (50%0y) 37 esterrinvestmertinmaizlonclChina feltojustt,sss0omilliai02 India(Ug$2.3billion)(+85xy-0-V) + 2 Interos:andcxhangc:racvelatilityha: ercdecAsiaPacilieinvestcrsappelilelb 2e's[re.'sn ustralia:Us$l.2billic23 (-70%y-c-V) IN L.S.nvestnent'nAsiaPacificslowesl sgnificantlyduerosharpincrastrat:. hilkcir:-22022 WesterninvestmentinAsiaPacific USs10.4billion (2022)-/8%y-0-y N:Fs+giIiakd's':lkmrildlnIenIttl.nnsrthn.:I'nlrel.r.ntha'r,Iridr+I+.a.Ideritix.Tt,I"rri:*J:..thtTa,i?l:ulr*+vTT'til:s'Ir.I.r.ullsihatlr..*2*udd S2u2eo37e-C-2ielArtts03cFes331M2723 UJK_R_SLAKCI *+22SC3RCIN: 01 Inboundandoutboundcapitalflows declinein2022 .4I.:] 2.22A:ixFxuili.PdEstaltCeizl[ls.IPuw'.Fs.Ji: Risinginterest ratesinhibit investment AsiaPacilic:caoLallows IN westerninvestmentinAsiaPacific Uss10.4billion (2022)-48%y-0-y Note:Transgetiorincltdeealsirhg2llice,relai,nised.indus.tiel.otstiesizetalc.e,mullilanilgrdswsethcusinsandc.grcumr'grialseclctia.FeJgr9, Sal.rr:ks+P-lr-i1-laal,ixR-Hrsrarrh,Ma2073 (2022) USs11.5billion NetOutflow OUT AsiaPacificinvestmentoutsidetheregion Uss21.9billion A-0-A%07-(6600) – Higherinte'gstratesweighedcnglobelinvestmentactivrityformuchof222 resu.Itinc:inssharpdeclineincaptalflows IxotInandloutofAslaPaclfic. –AlLhoughwoll-cepilalisodinstilulicnal investorscontinuedtodccui'gAsisPacific reslestate.theregionreccrdedanetoutflow cfussT15billanin2022 UJK-R_2LAKCI *+2SSC3RCIN: 2.22A:ixFxuili.PdEstaltCizl[l.IPuw*.sJI: CapitalflowsAsiaPacificcapitelinflowsnclciltflow3 declineafter reboundingin2021 70Capit1Inflowwesterncaji.al IvestingInAs'aPacif Capltelo,tflov)-AsiaI1gcificcstal 601vestingoutsidethereg=1 Ve:vepitasu.fcwfs-AsiePeci'ic – 50 AsiaPacificinvestcrsacqu'redLs$21.9billionworthcfcniimercialestatec.tsic:enftl1eregionin2022 – ThlswasJustonc-tairdofthcalltimohighrcoordedin2017, – whenmainilancChiroscinvcslolsworerioslaclivroinacairinigGverse=srealestate WesterninvestmentinAsiaPacifihastypicalyrechedbetweenuss10-2aillinperarnumnvert.nepsa:decade –2o21mar<xlarcc>rchiahforsstsrninuostmcntinAs ssn 30 20 Patifieurilfobackufs.Ionyfur'draisirngaclivi.ybryglobalroal estate',nds. 10 0 2013201420152016201720182019202020212022 Koly:T-2isrlosineludyzeintleoflice.'ek'l,mixed.irdsigl.lolelsilena(i..rultifamilyands.ulenlzusrg>rdstleco'mre'cizlssclsfie.lheellrale. SnicItir'gte.Develoaentsites?bbaused. Source#caleglCeplklsrahtes.CREResegrch/ay223 JK_R_SLAKCI *+22SC3RCIN: 02 In:InvestmentfocusesonIapanandIndia aspurchasinginmainlandChinaslows 2.22A:ixFxuili:PdEstaltCjizl[l=s.IPuw'.Fs.Ji: Investmentfrom NorthAmerica fadesin2022 Capital'nflcwstoAsiaPacificbyregicn INorthAmcrica EMEA 10 8 hillion) $sn) 1 2018H12018H22019H12019H22020H12020H22021H12021H22022H12022H2 Nete:TigsyclisnsircluledeglsinLigTice,Ielilinxed.'zustiz,retel.esidentisl.g.li'grlardstuzerlliojsingizec.heicomrigiialsecto's(ileallizg. geriorcusneete.Deseopmer.eitgsarexeludes. ScurM3cIel-y5A*elg.ksCBREReEeerchMa2029 TheweakerflowofweserrncapitalintoAsisPacificseenin 2o22a:mnst.prnnoJcedamngNorthA.meriαsnirvestnrs. PuchasosoynvostorsfromthlsregloniillromUs$5.5 billiuriinH22021LoUs$3billoriinH22022.Dos:oiLoInosharp dacline,theU.S.remainedchel=rgastsourceotcapitaloutsideAsiaPacific. – – EurapcsninvestmentinAsiaFacific:strenctlenedinH22022,larglyIxcausofM&G'sUss1millionacquisitionofthe – MinaloMituiCunturBuildinyinYokuhanta,Jupun. ActiveWesterninvestcrsintheregionaretypicalythosewich apre-existingpresenceancforgroupswitl-irvestmren:velirles/maldatestarget:ingthe'egin. JK_R_SLAKCI *+2SC3RCIN: .4.: 2222AsixFaik:PaaEstawGsialrlun,IPuw'.FsJI2: Tcptivemarketstercaotaintlowsin2022vs202 MlainlandChina Tapan 2022.18illan 202715#35sillo1 2021:4s37bir7 India HolKolySAR 2220sillo 221L38coillo1 Singapore 2022.Js31.2blien 2021:U$2til11 AusLralia 2022.1.58°2sillio1 2021:6$:l:ilio Nate:TranssothrsIncltdegalsir:haoffce.ratallrixed.Inaus.nlal,hotel.resl:entlal:.e n.lnif:milyandshi.derthalring:andathrconrerialssetars(tr.hralthrar.:1erFollsirg rtr.>.Lekipnr:sitaaraxrh.d... S.t-h+K.rhMA