Asia Pacific Region Enjoys Residential Market Price Increases Despite Economic Slowdown
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In a puzzling scenario, some Asia Pacific countries are seeing prices rising in their home markets despite a global economic slowdown, according to the latest edition of Knight Frank's Asia Pacific Residential Review compiled by Nicholas Holt. His findings were posted in an online press release.
Hong Kong is seeing its strongest quarterly growth since third quarter 2009.
Quarter on quarter price growth jumped from 1.8% to 8.4% in Q2 in the Hong Kong residential market as sentiment improved and pent-up demand drove up transaction volumes, according to the report.
The ongoing uncertainty in the world's economy continues to have an impact on markets. Weaker economic growth has impacted sentiment and in some cases the wealth of buyers, Still, the report finds, property as a hard asset, continues to be regarded as a safe investment choice, reinforced by inflation and often negative real interest rates.
This situation continues to be further complicated by government intervention into various property markets, which has continued through 2012. Hong Kong, Indonesia and Malaysia recently introduced further cooling measures.
Fear that activity from central banks in the Eurozone, Japan and especially the US could lead to excess liquidity finding itself into property markets this side of the world, means that it is unlikely that any of the cooling measures will be lifted in the short term, according to Knight Frank's report.
Quarter on quarter price growth jumped from 1.8% to 8.4% in Q2 in the Hong Kong residential market as sentiment improved and pent-up demand drove up transaction volumes, according to the report.
The ongoing uncertainty in the world's economy continues to have an impact on markets. Weaker economic growth has impacted sentiment and in some cases the wealth of buyers, Still, the report finds, property as a hard asset, continues to be regarded as a safe investment choice, reinforced by inflation and often negative real interest rates.
This situation continues to be further complicated by government intervention into various property markets, which has continued through 2012. Hong Kong, Indonesia and Malaysia recently introduced further cooling measures.
Fear that activity from central banks in the Eurozone, Japan and especially the US could lead to excess liquidity finding itself into property markets this side of the world, means that it is unlikely that any of the cooling measures will be lifted in the short term, according to Knight Frank's report.
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