Bids data: behind the headlines on APAC investment activity

Source: JLL Research

The retail investment market is still recovering from the pandemic-induced downturn. In 1Q 2023, the average bid price was 31% lower than the asking, deals closed 20% lower than the asking price, and investment volumes declined 35% y-o-y. This is despite the average unique bidders per opportunity rising to 6.6 in 1Q 2023, up from 2.9 in 4Q 2022. That implies investors threw in low bids just to try their luck, but not many stuck.

Figure 3: Retail Bid-Ask-Close Spread