1、ResearchAPAC|October Multifamily in motion:A deep dive into Asia Pacifics living sector Multifamily in motion:A deep dive into Asia Pacifics living sectorContents0102032Investment landscape The compelling case of multifamily investmentCapital Markets Japan Australia China(Shanghai)Conclusion Introdu

2、ctionThe living sector is currently the most active and liquid in the commercial real estate space globally.With USD 75 billion worth of trades in the first half of 2023,the sector has overtaken the dominance of office assets,which was the traditional stalwart of portfolios.Life after COVID,high int

3、erest rates,and the resilient fundamentals of the living sector globally have supported price discovery.Momentum continues to build.We record more capital making bids and allocations being made into housing,where supply hasnt kept up with demand.The living sector in Asia Pacific(APAC)is in its infan

4、cy.It is both segmented and set to evolve.This paper aims to examine residential units that have been purpose-built for the rental market in countries with institutional presence.In Japan,the term multifamily residential is used to describe the maturing segment thats attracted the most foreign capit

5、al in recent years.Similar living products are referred to as rental housing in Shanghai.In Australia and New Zealand,BTR,or build-to-rent,is the emerging asset class to watch.The distinction of BTR highlights the political and social aims of the nascent sector to key stakeholders.The categorisation

6、 fosters government support and encourages investment at scale where product has yet been built sufficiently to meet demand.In this report,we refer to multifamily,rental housing and BTR interchangeably.3Contents From a portfolio diversification standpoint,theres an increasing focus on favouring grow