"Beijing’s retail market performed steadily in 2024, posting moderate growth while newly launched projects improved the consumptionenvironment in non-prime and suburban submarkets."

"Chengdu retail market’s new projects have become more diverse, adding much freshness to the market. Apart from the opening of new shopping malls and renovated projects, nontraditional retail projects have continued innovating retail space, exploring new possibilities for Chengdu retail development."

"The local government has demonstrated a strong determination to stabilise housing market development with a profound policychange after 14 years, incubating a surge in site visits and purchases during the National Day holiday. Nonetheless, a full recovery of purchasing sentiment will still count on an improvement in macroeconomics, employment and spending."

"Singapore food factories are fast becoming a new asset class. With labour shortages and the high operating overheads F&Bestablishments face, more have migrated their in-situ kitchens to food factories to protect their margins."

"Thailand is emerging as a regional data centre hub, driven by rapid digitalisation, robust infrastructure, and strategic investments from global tech giants. With a thriving digital economy and strong connectivity, the country offers promising opportunities for hyperscale data centres, underpinned by renewable energy and secure operations."

"Condominium prices in Tokyo 23W  have hit new highs due to continued demand from residents, consistently low interest rates, and stronger wage growth. Meanwhile, elevated construction, land, and labour costs have added additional upward price pressure and have constricted supply."

"The hospitality market outlook in Kuala Lumpur looks promising as more international brands are set to open and exciting new attractions, including Michelin-rated restaurants, will continue to drive the market’s recovery."

"The removal of extra stamp duty to non-first-time homebuyers lead more buyers from this group to enter the market. The proportion of buyers who already owned one or more residential properties stood at 44%, a significant increase from only 16% during the same period in 2023."

"Despite the challenges facing the manufacturing market, demand for high-grade factories remains strong, driven by a government-led push to lead the way in new economy industries such as NEVs, solar panels, and batteries. China reigns pre-eminently in these fields while it continues to look for new industrial highlands."

"Amidst ongoing economic uncertainty and various global challenges, the premium or luxury apartment market made only very modest progress in 2024, registering small increments in supply and demand."