Asia Pacific transaction volume is on track to reach US$7.0 billion in 2021, a 15% increase y-o-y.
For the first three quarters of 2021, China dives in for the region’s new leading market, the numbers are extremely promising. China has already seen US$1.5 billion in the hotel and serviced apartment transactions as of September. JLL predicts that the transaction volume for mainland China will reach US$2.0 billion in 2021, which matches pre-pandemic levels. China could see yet another bumper year of US$2.0 billion in transactions.
Due primarily to limited suitable properties available for sale, hotel transactions in Japan were down 33% against YTD September last year and down 61% against the same period in 2019. Despite remaining one of the most active transaction markets in the region, and full-year transaction volumes in Japan are expected to remain below 2020 levels.
Dean Humphries, National Director of Hotels for Colliers, says in the calendar year ending 31 December over $400 million of hotel deals will have settled, representing a staggering 33% increase on the previous highs of 2010 and 2015 that saw $300 million of sales recorded each year, and nearly three times the 10-year average of $150 million per annum.