Asia property market recovery well underway, according to industry experts
|
Asia's property market is making a strong comeback with renewed buying interest for residential property powering sales on expectation that the economic downtrend is bottoming out, it is claimed.
The regional property market is showing more resilience compared with the 1997 Asian financial crisis which took a heavier toll on the market, analysts point out.
Growing evidence that the US recession is bottoming out will stabilise the region's economy and spur its recovery during the second half of the year, they add and it is expected to provide a favourable basis for both residential sales and leasing markets in Asia, including Kuala Lumpur, Singapore, Hong Kong and Jakarta.
Industry observers are expecting a more robust revival in the region's property market towards the end of the year, alongside a further pick-up in the global economy.
