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DENNIS FUNG

China's office market has experienced one of the fastest growth rates in the world. Between 2009 and the third quarter of this year, the grade A office market in the four first-tier cities increased more than threefold to 1.3 trillion yuan.

Asia-Pacific investors are becoming less risk-averse and more willing to move up the risk curve. Risk associated with property investment fell during the second quarter of this year, with the DTZ risk multiplier, a gauge of property market risk, now close to its record low before the global financial crisis.

The winding down of the US Federal Reserve's quantitative easing (QE) programme is expected to result in rises in long-term interest rates around the world, and we believe this will have significant repercussions on Asia-Pacific property markets.

As 2013 draws to a close, it is time for occupiers and investors across the region to review their corporate real estate and investment strategies for the coming year.

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