Report | Intelligent Investment
Q3 2026 Asia Pacific Cap Rate Survey
November 5, 2026 5 Minute Read
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Although robust commercial real estate investment activity in Asia Pacific propelled year-on-year growth of 24% in Q1-Q3 2026, CBRE professionals in the region note that investor risk appetite is moderating as central banks hike interest rates.
Investor’s selling intentions across Asia Pacific have strengthened, with mainland China showing the sharpest shift in this direction. Australia, Japan and Singapore are also leaning to sellers. Meanwhile, Hong Kong SAR is on a different track, with 75% of respondents reporting stronger buying intentions. Buying intentions weakened across investor types, while selling intentions increased for funds and REITs.
Occupier fundamentals such as tenant demand and rental growth are viewed as most favourable to investment sentiment, while potential interest rate hikes are seen as the top challenge faced by investors.
Grade A core offices remain the most sought-after asset class, with interest also increasing in Grade B core and Grade A non-core locations. Urban hotels rose to become the second most preferred sector for investment, particularly among Hong Kong SAR, Korea and Japan respondents. Healthcare/life sciences and student housing are the most popular alternative sectors, with India displaying the strongest interest in the healthcare/life sciences sector.
Cap rates are largely holding steady across the region, with upward pressure in Australia.
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Research Contacts
Capital Markets Contacts
Greg Hyland
Head of Capital Markets, Asia Pacific
Callum Young
Executive Director, Capital Markets, Asia Pacific
Valuation & Advisory Services Contacts
Jason Yeo
Executive Managing Director, Global Head of Quality and Risk Management, Interim Head, Valuation & Advisory Services, Asia Middle East & Africa
Lic. API No. 65678, QLD Reg. No. 2339
Duncan Guthrie
Executive Managing Director, Valuation & Advisory Services, Pacific
