HONG KONG – Singapore and Shanghai rank top among Asian cities as the best real estate investment destinations, while Osaka and Manila are seen as the least ideal, an industry survey showed on Monday.
Singapore topped the rankings on the country’s strong economic growth and brisk activity in the financial and high-tech industries, according to the survey jointly published by the global non-profit Urban Land Institute and PricewaterhouseCoopers.
Shanghai, Mumbai and Hong Kong were the next favourites, according to the study, which is based on the responses of more than 280 property professionals, including investors, developers, property company executives and brokers.
Shanghai dropped to second, from first in the previous annual survey, as the city saw sharp increases in property prices, damping some investor interest.
Even though the survey was carried out before Hong Kong announced its harshest tightening measures to cool its red-hot residential market a few weeks ago, it would not have affected the final standings, executives involved in the survey said.
“It’s a concern and certainly affects residential developers, but I don’t think it will change the rankings,” Stephen Blank, senior fellow at the Urban Land Institute, told Reuters after a news conference. “Residential doesn’t drive the market.”
Blank said it was possible that Asian governments would unveil more policies to cool their markets, but the strength of the economies would be the fundamental driver for investment decisions, especially in the commercial real estate sector.
“There is a great feeling of uncertainty because it is very hard to know what the potential changes in regulations are going to be,” Blank said. “Regulations come and go. In Asia, governments turn things on and turn things off very quickly.”
Based on the survey that looked at 20 Asian cities, investors are least keen on investing in Bangkok, Auckland, Osaka and Manila due to factors, such as office space oversupply and stagnant commercial rents. –Reuters
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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