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December brings out the opportunity for property experts to delve into their Christmas stockings and bring out a crystal ball to predict what some of the key trends for the pending 12 months may be.
Whilst uncertainty remains over weather commercial tenant demand will bounce back or if shoppers will start buying anything other than groceries again, one thing that is certain is that the continued emergence of Asian capital into all commercial property markets across our major capital cities.
SINCE Tokyo was selected to host the 2020 Olympics, Japan has been riding a wave of elation. The Nikkei rose 2.5 per cent following the announcement, with construction stocks being the notable beneficiaries.
The Olympics boost came just in time. One year after Prime Minister Shinzo Abe's Abenomics was introduced, Japan's economy is seeing a revitalisation after more than two decades of stagnation.
Tokyo is expected to be the strongest market in Asia for real estate investment next year, according to Emerging Trends in Real Estate Asia Pacifi 2014, a real estate forecast jointly published by ULI and PwC. After the introduction of dramatic economic reforms, transaction volume picked up significantly in 2013. Buying is expected to continue next year, as Tokyo is ranked second for development prospects for 2014.
