Asia Pacific commercial property investment tops US$105b in H1

This is the strongest first half result since 2022.

Asia Pacific's commercial real estate market recorded its strongest first half since 2022, with investment volumes reaching US$105 billion in H1 2026, according to Colliers.

In its latest Asia Pacific Capital Markets Snapshot H1 2026, based on MSCI Real Capital Analytics data, Colliers said the result reflected renewed cross-border investment and stronger capital deployment across a broad range of markets and property sectors, signalling growing confidence in the region's liquidity, transparency and long-term growth prospects.

Japan attracted US$25.3 billion in investment during the first six months of the year, while Australia recorded US$15.8 billion. Singapore was the standout performer, with US$14.1 billion in transactions, already surpassing its full-year 2025 total. China also remained a major contributor, recording US$27.5 billion in transactions, although Colliers noted activity there continued to be dominated by domestic investors while foreign owners remained focused on divestments.

"The first half of 2026 marks an important turning point for Asia Pacific real estate investment," Theo Novak, managing director, capital markets Asia Pacific at Colliers, said. He said investors were increasingly confident in the region's ability to deliver liquidity, transparency and sustainable growth, with capital flowing back into traditional sectors including office, retail and industrial, alongside structural growth areas such as data centres.

Office assets attracted the largest share of investment at US$40.2 billion, followed by retail at US$26.7 billion and industrial at US$22.8 billion. Data centres attracted US$6.7 billion year to date, highlighting continued investor interest in technology-driven real estate themes.

According to Colliers, overseas buyers accounted for 35.9% of acquisitions across Asia Pacific in H1 2026, up from 26.0% in 2023, with cross-border buyers exceeding sellers to become net purchasers of regional real estate.

Novak said the return of international capital, led by major institutional investors and private equity groups, was once again playing a pivotal role in shaping market activity across Asia Pacific.

Commenting on Indonesia, Mike Broomell, managing director of Colliers Indonesia, said H1 2026 demonstrated that capital remained available for large Indonesian assets with strong fundamentals. He said investment activity was expected to broaden in the second half, although buyers would remain selective, favouring prime office assets, healthcare property and investments offering resilient income and strong operating credentials.

Colliers said it had advised on several major transactions across the region during 2026, including the sale of St Ives Shopping Village in Australia for US$310 million, the approximately US$339 million PwC Tower transaction in Auckland, the sale of The Robertson House in Singapore for US$280 million, four South Korean transactions totalling US$675 million, and Northern Taiwan's largest industrial land transaction in more than two decades.