Hong Kong dominates Asian property investment in first half
But survey ranks Sydney as the region’s top potential investment market next year, with Melbourne second, Singapore third, Shanghai fourth, Ho Chi Minh fifth, Shenzhen sixth, Tokyo seventh and Hong Kong a lowly thirteenth
Hong Kong attracted the most property investment in Asia in the first half of 2017, according to a latest annual property report from PwC.
The city took the top investment spot with real estate sales reaching US$8,269 million, a 5 per cent year over year increase, ahead of Tokyo which had sales worth US$6,207 million. Shanghai came in third (US$5,854 million), and fourth was Singapore (US$5,801).
The data in the “Emerging Trends in Real Estate Asia Pacific 2018” report was collected by Real Capital Analytics.
The study – based on predictions and interviews with 600 industry experts by the professional services firm, and the non-profit education and research organisation Urban Land Institute (ULI) – also covered rankings in terms of the future “potential” Asian property hotspots.
Participants were asked to rank Asian cities as a “potential” investment target next year. Sydney is now considered the region’s top potential investment market, Melbourne is second, Singapore third, Shanghai fourth, Ho Chi Minh fifth, Shenzhen sixth, and Tokyo seventh and Hong Kong a lowly thirteenth, although that was better than its eighteenth position in last year’s report.
“In spite of a lack of investment opportunities due to high prices and a relatively illiquid market, activity in Hong Kong is increasing,” said David Faulkner, vice-chairman of ULI Hong Kong and managing director, valuation and advisory services, Asia, at Colliers International.
