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Asia Luxury Home Market Stabilises But Weak Economic Climate Q3 2012

By on Nov 20, 2012 in Research

ASIA LUXURY HOME MARKET STABILISES BUT WEAK ECONOMIC CLIMATE LIMITS POTENTIAL FOR REBOUND

Luxury home prices in Asia strengthened in Q3 2012 with the CBRE Asia Luxury Residential Price Index increasing by 2.4% q-o-q, marking the end of four consecutive quarters of decline. Prices rebounded in Beijing, Shanghai, Guangzhou and Shenzhen thanks mainly to improved buyer sentiment. Limited supply and low interest rates combined to support the growth of luxury property prices in Singapore and Hong Kong whilst prices in Ho Chi Minh City, Kuala Lumpur and Bangkok were largely unchanged.

The CBRE Asia Luxury Residential Rental Index edged up by 0.5% q-o-q in Q3 2012 as leasing markets across the region remained broadly stable. However, expatriate demand remained weak as multinational corporations continued to adopt a cautious attitude towards expansion and sought to trim housing allowances for staff posted to the region.

This is an extract from CBRE‘s Asia Luxury Residential MarketView Q3 2012.  To read the full document please click here.

Chris Hardy has extensive research experience. Chris specializes in property research internationally writing for CBRE specifically about global issues and trends.

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