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Despite the rapid change and uncertainty experienced worldwide last year, CBRE retains a relatively positive outlook for the Asia Pacific commercial real estate market in 2023.

From an economic perspective, inflation is expected to ease, and interest rates in the region are set to stabilise in the second half of 2023.

Office demand will be solid, driven by the recovery in mainland China, while retailers will adopt a positive, albeit prudent, approach to expansion. 

Logistics demand is forecasted to pull back as e-commerce growth normalises, while hotel performance is expected to surpass pre-pandemic levels. 

In the capital markets, investors will stay in wait-and-see mode until there is firm evidence that interest rates have peaked, with purchasing expected to pick up significantly in the second half of the year.

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