A number of negative factors contribute to the slowdown in the growth of the global economy, this has also had an impact on economic growth in the Asia-Pacific region in the real estate sector. It is estimated that total real estate investment in the region for the whole of 2022 decreased by about 25% compared to 2021, and a further decrease of 5 to 10% is expected in 2023.
Nevertheless, the pace of construction and opening of new projects continues to gain momentum after slowing down in 2019-2021. In 2023, it is expected to open many different projects of various types of real estate throughout the country and the region.
But this forecast may change. If some of the situations that are happening in the world now are resolved next year, that will give investors more confidence.
The hotel sector has started to recover this year. But the situation is still not stable. In terms of investments, it is expected that in 2023 the cost of hotel sales in the region will increase by 6% compared to 2022, when the cost of investment will increase by 10-15%.