Colliers Releases Asia Pacific Cap Rate Report Q1 2026

Colliers International Japan Co., Ltd. (Colliers Japan), a leading diversified professional services company, has released the Japanese edition of the 'Asia Pacific Cap Rate Report Q1 2026,' analyzing the latest trends in the APAC real estate market. The report provides a quarterly analysis of cap rate (investment yield) trends across the region, offering benchmarks for investors and identifying opportunities in the office, retail, and industrial sectors.

In the first quarter of 2026, APAC cap rates remained largely flat. Despite geopolitical risks and inflationary pressures, ample domestic capital continues to underpin the market. Investment demand is increasingly concentrated on high-quality and defensive assets in markets with solid long-term fundamentals, reflecting a shift toward more selective, high-conviction investing.

Sector-specific trends show a continued 'flight to quality' and robust leasing demand for prime assets in Central Business Districts (CBDs) supporting the office sector. Strong absorption was observed in cities like Mumbai, Bangalore, and Tokyo, bolstering investor confidence. The retail sector saw a recovery in investment activity in Hong Kong and sustained strength in Tokyo, supported by inbound tourism demand. The industrial sector continues to outperform, fueled by strong demand for logistics, e-commerce, and data centers, with high occupancy and rental growth seen in Jakarta and Mumbai.

In Tokyo, demand remains firm across the office, retail, and industrial sectors, maintaining a stable market environment. The office market continues to see a shift toward high-quality buildings, while the retail market benefits from tourism and the industrial sector from e-commerce and 3PL needs. Colliers remains committed to leveraging its global expertise to accelerate the success of its clients across more than 60 countries.