The real estate market in the Asia Pacific region has come out of the global financial crisis in pole position.
According to Lim Lam Yuan, President of Singapore’s Institute of Surveyors and Valuers, the increased interest was attributed to heightening investment opportunities for prime residential property, as well as a competitive market for developers.
He added that there were four reasons to invest in property in the region: property expertise, diversification, competitive yields and globalisation.
The dominant Chinese market has seen quick growth in the past decade. This was observed in 2010’s property sales which reached more than 4.7 trillion yuan (US$715 billion), from 4.3 trillion yuan (US$654 billion) in 2009.
China’s main attraction is investment opportunities in developments such as hospitality service management and retail, while India’s property sector continues to grow due to its enhanced infrastructure, well-developed legal system and possible prospects within construction and residential development.
On the whole, Asia’s property market grew 59 percent in 2010.