The recently released Emerging Trends in Real Estate® Asia Pacific 2009 report, released by the Urban Land Institute (ULI) and PricewaterhouseCoopers LLP has the top markets for investing in real estate for the upcoming year. Tokyo, Singapore and Hong Kong are the top three Asia Pacific property markets, while last year’s number one market, Shanghai, falls to five on the list, just behind Bangalore, India.
Tokyo tops the list because it has the best risk rating throughout the entire region, though it only ranks ninth for development prospects. Singapore comes in second for investment but is seventh overall for development prospects. The top ten markets are rounded out by Singapore, Seoul, Mumbai, Taipei, New Delhi and Kuala Lumpur.
The report is based on the opinions of internationally renowned real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants. Overall, Asian property sales plunged 68 percent in the third quarter of 2008 compared with 18 percent year over year through August, according to Real Capital Analytics. The report goes on to caution, “One potentially major problem is that the credit freeze will cause economies to seize up. That’s the big risk for the entire industry.”
Among property sectors most promising, offices take top ranking for both investment and development. Ho Chi Minh City is ranked the best market for buying office properties, followed by Tokyo, Mumbai, Shanghai and Bangalore.
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