Old, outdated properties sitting on US$40b of untapped value in Asia-Pacific: JLL

REAL estate investors and landlords of older assets may be missing out on income opportunities and cost savings if they do not upgrade or repurpose their buildings, according to a JLL report.

Across the Asia-Pacific, rental rates for aged and outdated buildings are 10-40 per cent lower than well-managed, up-to-date properties in similar locations, the real estate consultancy's research found.

The difference in rates may widen when newer buildings designed for the post-pandemic world enter the market, JLL said in a press statement on Tuesday.