# Investors to deploy more capital to Apac living sector over next five years: C&W

- **Source:** EdgeProp Singapore
- **Published:** 2026-08-31T07:34:23.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/investors-deploy-more-capital-apac-living-sector-over-next-five-years-cw
- **Topics:** Government & Policy, Investment & Capital Markets, Regional Markets

## Featured rationale

Strong capital appetite amid scarce institutional-grade stock may intensify competition for stabilised assets and encourage conversions, particularly in preferred build-to-rent and multifamily segments.

## AI summary

Cushman & Wakefield estimates US$33.2 billion will enter Apac living assets over five years, with 85% of surveyed investors planning increased allocations.

## Original article

Investors plan to increase capital deployment into the Asia Pacific (Apac) living sector over the next five years, despite uncertainties brought on by the Middle East conflict, according to a Cushman & Wakefield survey.

The firm’s inaugural Apac Living Investor Survey 2026, which polled investors representing 223,953 living units or beds across the region in 2Q2026, unveiled that 85% plan to increase their living sector investments over the next five years, while none expect to reduce their allocations.

Based on respondents’ projected capital deployments, an estimated US$33.2 billion ($44.28 billion) will be invested in the sector over the next five years.

Read also: Apac data centre asset values to exceed US$950 bil by 2030: Cushman & Wakefield

Investors’ conviction in the Apac living sector remains strong, even with heightened caution following the outbreak of hostilities in the Middle East last quarter, which led to shocks in energy prices and supply chains.

“Despite heightened economic and geopolitical uncertainty, investors continue to view living as a long-term strategic allocation supported by resilient demand fundamentals, defensive income characteristics and strong structural growth drivers,” said Conal Newland, Cushman & Wakefield’s international director and head of living for Apac.

More investors also intend to widen their exposure to the living sector. A third of survey respondents with diversified real estate portfolios expect the sector to account for over 30% of their portfolio within five years, making it the largest sector exposure for many investors.

The combined Australia and New Zealand area was voted the most preferred Apac destination for living sector investments, largely underpinned by the Australian market’s structural housing undersupply and strong rental fundamentals.

Japan ranked second, with investors drawn to the country’s mature institutional multifamily market, as well as its scale, liquidity and deep operational stock.

Singapore ranked third, followed closely by South Korea and Hong Kong. While all three markets attract interest, capital deployment in these markets remains constrained by scale, regulation and pricing, said Cushman & Wakefield.

Read also: Brookfield buys 50 multifamily residential assets in Japan for more than JPY100 bil

Across the different living sub-sectors, the build-to-rent and multifamily category topped the list for investors, with 34% of respondents ranking it as their primary target segment over the next three years. Co-living was second at 23%, ahead of purpose-built student accommodation (22%), senior living (14%) and workers' housing (7%).

Investors’ geographic and segment preferences indicate that capital is prioritising markets where institutional-scale deployment is most achievable, added Cushman & Wakefield.

Still, deployment remains robust, with the Apac living sector facing a shortage of investable stock rather than a lack of capital, noted Josh Rose-Nokes, the firm’s Apac director for living research. “Investors increasingly want stabilised, income-producing living assets, yet much of Apac lacks sufficient institutional-grade product to satisfy that demand.”

As competition for stabilised assets grows, investors are increasingly turning to alternative investment routes.

According to the survey, 73% of respondents are actively considering repositioning strategies, either through acquiring assets for conversion or upgrading existing holdings. In particular, office and hotel conversions are becoming a bigger source of living supply in markets such as Singapore and Hong Kong.

Meanwhile, pricing remains the top concern among Apac living sector investors. A total of 44% of respondents identified the gap between buyer and seller expectations as the biggest challenge, followed by development viability at 29%.

Read also: Why some young Singaporeans are opting out of the homeownership path

## Chinese translation

> Translation model: grok_cli

### 投资者未来五年将向亚太居住板块投放更多资本：世邦魏理仕

预计未来五年将有332亿美元投入该板块，澳大利亚和日本居投资者首选目的地之首。

投资者计划在未来五年增加对亚太地区（Apac）居住板块的资本投放，尽管中东冲突带来不确定性，世邦魏理仕一项调查显示。

该公司首份《2026年亚太居住板块投资者调查》于2026年第二季度访问了在该地区代表223,953个居住单位或床位的投资者，结果显示，85%的受访者计划在未来五年增加居住板块投资，无人预期会削减配置。

根据受访者的预计资本投放，未来五年该板块的投资额估计达332亿美元（新币442.8亿元）。

延伸阅读：亚太数据中心资产价值到2030年将超过9500亿美元：世邦魏理仕

即便上季度中东战事爆发推升了谨慎情绪，并导致能源价格与供应链冲击，投资者对亚太居住板块的信心依然强劲。

世邦魏理仕国际董事兼亚太居住业务主管Conal Newland表示：“尽管经济与地缘政治不确定性上升，投资者仍将居住板块视为长期战略配置，其支撑来自具韧性的需求基本面、防御性的收益特征以及强劲的结构性增长驱动因素。”

更多投资者也打算扩大对居住板块的敞口。在持有多元化房地产投资组合的受访者中，三分之一预期该板块将在五年内占其投资组合逾30%，成为许多投资者最大的板块敞口。

澳大利亚与新西兰合计区域被评为亚太居住板块投资最受青睐的目的地，主要得益于澳大利亚市场结构性住房供应不足以及强劲的租赁基本面。

日本位列第二，投资者看重该国成熟的机构化多户住宅市场，以及其规模、流动性和深厚的运营存量。

新加坡排名第三，紧随其后的是韩国和香港。世邦魏理仕表示，尽管这三个市场均吸引关注，但资本投放仍受规模、监管和定价所限。

延伸阅读：Brookfield以逾1000亿日元收购日本50项多户住宅资产

在不同居住子板块中，建后出租与多户住宅类别最受投资者青睐，34%的受访者将其列为未来三年的首要目标细分市场。共享居住位列第二，占23%，领先于专用学生公寓（22%）、养老居住（14%）和劳工住房（7%）。

世邦魏理仕补充说，投资者的地域与细分偏好显示，资本正优先投向最有条件实现机构化规模投放的市场。

不过，投放依然强劲，亚太居住板块面临的是可投资存量不足，而非资本短缺，该公司亚太居住研究董事Josh Rose-Nokes指出。“投资者日益希望获得已稳定、可产生收益的居住资产，但亚太大部分地区缺乏足够的机构级产品来满足这一需求。”

随着对已稳定资产的竞争加剧，投资者正越来越多转向另类投资路径。

调查显示，73%的受访者正积极考虑重新定位策略，或是收购资产进行改建，或是升级现有持仓。尤其是在新加坡和香港等市场，办公楼与酒店改建正成为居住供应的更大来源。

与此同时，定价仍是亚太居住板块投资者的首要关切。共有44%的受访者将买卖双方预期差距列为最大挑战，其次是开发可行性，占29%。

延伸阅读：为何部分新加坡年轻人选择退出置业之路