Housing-Estate.com, Jakarta – In Asia where attractive city for investment property in the next year? Urban Land Institute (ULI) and PriceWaterhouse Cooper LLP (PWC) has conducted a survey and found two cities in India occupy the top two positions, namely Bangalore and Mumbai. The result was quite astonishing, articles in both cities last year were in position 12 and 13. Even in 2014 in a position protruding from 22 cities in Asia surveyed.
City Banglore India
According to ULI and PwC, the key is commercial property. The results of the survey also mentioned that business is booming business process outsourcing (BPO) and information technology company growth is driving demand for new office space. The expansion needs of the BPO industry in India has given a big advantage for investors who have invested there since some time ago. And this interesting condition still continues to this day.
Another result is a fascinating, in Tokyo next year will no longer be placed in the top positions, but in the 12th position. It also reflects the dissatisfaction of respondents to economic growth, as the impact of Abenomic amid stagnant market conditions. Declining economic prospects make the short-term outlook on the growth of rental rates for office space is not attractive, although the occupancy rate is still low. The interest rates are not attractive also a contributing factor, where it reduces the desires of space to sell.
Meanwhile, Singapore in 2011 and 2012 is in the first position, in the next year dropped to 21. to the extent that PwC refer to this condition as “a perfect storm” in the property market. Singapore market conditions indeed were not good, where in 12 consecutive quarters residensialnya prices are declining, along with the economic conditions in the third quarter of 2016 which is still a contraction. Government lion country itself is still determined to keep the cooling of the housing market. Position the slump also occurred in Jakarta, although not many. If this year is still in sixth place, finished seventh position next year.
However, India do not like it. The survey also confirms that Asian investors are more interested in property markets outside the region, especially New York and London, where the greatest demand is from China. Foreign buyers from Panda is the more you invest into London property, following Brexit events, as well as elsewhere in the world are investing realestatnya certainly interesting. They are so because the value of its currency to weaken, as well as house prices in the country is still in turmoil, while the desire to remain high to continue to invest abroad.
According to PwC, such attitudes were not only found in the investor individual alone, also on investor companies. Consultants estimate that the insurers of Chinese citizens could spend more than 240 billion US dollars related to an increase in the allocation of investment property abroad, from 1 percent to 15 percent, which is precisely the opposite happened in the US.
Source: Bloomberg
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