1、REPORT2026 Asia Pacific Real Estate Market Outlook Recalibrate and InnovateCBRE RESEARCHJANUARY 2026Intelligent Investment2CBRE RESEARCH 2026 CBRE,INC.Intelligent Investment2026 Real Estate Market Outlook|APACUpdate header text Executive Summary3ContentsEconomy5Capital Markets9Office/Occupier13Logis

2、tics17Retail21Hotels253CBRE RESEARCH 2026 CBRE,INC.Intelligent Investment2026 Real Estate Market Outlook|APACOn the economic front,Asia Pacific GDP growth is forecasted to slow to 3.9%in 2026 from the relatively robust 4.3%in 2025,driven by softer growth in mainland China,India and Japan.With intere

3、st rates in most Asia Pacific marketscontinuing to decli ne in 2025,the rate cutting cycle is forecasted to slow further or finally come to an end this year.Investment is set to increase this year as net buying intentions continue to rise.With office leasing activity in many CBDs picking up,CBRE exp

4、ects investor appetite for offices to strengthen significantly this year.Limited yield compression will shift investors focus towards rental growth as a driver of returns.Office leasing demand is forecasted to strengthen in 2026 as occupiers strong desire to be in core locations with high-quality bu

5、ildings drives activity in mature markets.Expansionary demand will be seen from tech firms,wealth management and professional services companies.Supply is expected to peak while rents will remain on an upward track in most markets.While most logistics markets will still see rising rents,momentum wil

6、l slow as occupiers turn more selective towards expansion amid softer regional economic growth.New stock is set to fall sharply from 2027 as developers adjust to slower rental growth.3PLs and e-commerce operators will remain key drivers of demand,with automation-ready warehouses keenly sought after.