Definition:
Commercial real estate can be defined as properties that are used for business purposes, such as office buildings, retail spaces, warehouses, and industrial properties.Additional information:
The commercial real estate market contains the value of commercial properties as a key performance indicator. This is the worth of all office buildings, retail spaces warehouses, and industrial properties for the timeline of our data coverage.Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
The Commercial Real Estate market in Southeast Asia is experiencing significant growth and development.
Customer preferences: Customers in Southeast Asia are increasingly looking for modern and well-designed commercial spaces. They prefer locations that are easily accessible and offer a range of amenities such as parking facilities, restaurants, and retail outlets. Additionally, there is a growing demand for flexible office spaces and co-working environments, as businesses seek more agile and cost-effective solutions.
Trends in the market: One of the key trends in the Commercial Real Estate market in Southeast Asia is the rise of mixed-use developments. These projects combine commercial, residential, and retail spaces in a single complex, creating vibrant and integrated communities. This trend is driven by the desire for convenience and a holistic lifestyle, as people are increasingly seeking live-work-play environments. Another trend in the market is the increasing focus on sustainability and green buildings. Developers are incorporating eco-friendly features into their projects, such as energy-efficient systems, green spaces, and sustainable materials. This is in response to growing environmental awareness and the desire to reduce carbon footprints.
Local special circumstances: Each country in Southeast Asia has its own unique set of circumstances that impact the Commercial Real Estate market. For example, in Singapore, limited land availability drives up property prices and creates a competitive market. In Indonesia, the government's efforts to attract foreign investment have led to the development of commercial hubs in Jakarta and other major cities. In Thailand, the growth of the tourism industry has fueled demand for commercial spaces in popular tourist destinations.
Underlying macroeconomic factors: The growth and development of the Commercial Real Estate market in Southeast Asia can be attributed to several underlying macroeconomic factors. The region has experienced rapid economic growth in recent years, leading to increased business activity and demand for commercial spaces. Additionally, favorable government policies and incentives have attracted foreign investment, further driving the market. Furthermore, the rise of the middle class in Southeast Asia has created a strong consumer base and increased demand for retail and entertainment spaces. This has contributed to the development of shopping malls and entertainment complexes across the region. In conclusion, the Commercial Real Estate market in Southeast Asia is experiencing significant growth and development due to customer preferences for modern and well-designed spaces, trends such as mixed-use developments and sustainability, local special circumstances in each country, and underlying macroeconomic factors such as rapid economic growth and the rise of the middle class.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights