Hong Kong ranks ninth in cross-border property capital

Outbound flows reached US$4.93b in 2025.

Hong Kong ranked as the world’s ninth-largest source of cross-border real estate capital in 2025, with outbound flows of US$4.93b, according to Colliers.

The total included US$403m of global cross-border capital and US$4.53b of regional cross-border capital, whilst Hong Kong’s share of global capital sources rose to 4.7% from its five-year average of 3.0%.

Across the region, APAC real estate investment volumes increased 1.7% in 2025, lagging North America and EMEA, although Colliers said transactions of standing assets in core APAC markets rose about 8%. Japan and Australia also gained share as cross-border capital destinations, moving above their five-year averages.

Globally, real estate investment volumes rose 8.2% in 2025, whilst commercial real estate fundraising climbed 28.9% to more than US$222b. Fundraising targeted at APAC jumped 109%, outpacing EMEA’s 52% increase and North America’s 3.5% rise.

For 2026, Colliers said GDP growth is expected to be strongest in APAC, with all major regional markets except Japan forecast to expand by 2% or more. 

It added that a more supportive cost-of-capital backdrop could help real estate activity, although higher long-term bond yields and geopolitical uncertainty may still weigh on institutional allocations.