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Asia Pacific property investments to perform well in 2013
| Published: | 7 Jan at 6 PM |
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A recent review of the best-performing Asian locations for investment in property tips Bangkok and Jakarta as highlights for 2013, continuing last year’s successful trend.
Knight Frank’s Asia Pacific Residential Review recommends the two cities for their likelihood of strong economic growth and the growing presence of an affluent and aspirational property-owning middle and upper class. Both cites were strong performers in 2012 and are expected to continue giving results.
Singapore and Hong Kong are also mentioned as stable locations for expat investors in property, particularly in the prime residential sector. Singapore is popular for its stable political scene and transparent legal system, and Hong Kong’s recent imposition of stamp duty on oversea buyers may dampen down mainland Chinese demand but is not expected to prevent price rises.
Economic uncertainty in Vietnam, formerly a star performer, is making the emerging country’s prime property market unstable, with the review stating it should be avoided by investors at present. The downside of the soaring Philippine stock market is that what goes up fast usually results in overvaluation of companies followed by a sharp readjustment in the downward direction.
The present property boom in the Philippines has been based on record interest rate lows, according to a spokesman for Manila’s AB Capital , who warns that growth in the sector is unlikely to be sustained. The spokesman said that cheap loans sparked the boom, adding that a number of developers are already at risk.
Knight Frank’s Asia Pacific Residential Review recommends the two cities for their likelihood of strong economic growth and the growing presence of an affluent and aspirational property-owning middle and upper class. Both cites were strong performers in 2012 and are expected to continue giving results.
Singapore and Hong Kong are also mentioned as stable locations for expat investors in property, particularly in the prime residential sector. Singapore is popular for its stable political scene and transparent legal system, and Hong Kong’s recent imposition of stamp duty on oversea buyers may dampen down mainland Chinese demand but is not expected to prevent price rises.
Economic uncertainty in Vietnam, formerly a star performer, is making the emerging country’s prime property market unstable, with the review stating it should be avoided by investors at present. The downside of the soaring Philippine stock market is that what goes up fast usually results in overvaluation of companies followed by a sharp readjustment in the downward direction.
The present property boom in the Philippines has been based on record interest rate lows, according to a spokesman for Manila’s AB Capital , who warns that growth in the sector is unlikely to be sustained. The spokesman said that cheap loans sparked the boom, adding that a number of developers are already at risk.
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