Asian buyers dominate property market in Asia Pacific

Property consultant Jones Lang LaSalle said Asian buyers are dominating the property market in Asia Pacific.

It said in a report that property transaction volumes in Asia Pacific for the first half of 2010 totalled US$38.8 billion.

This compares to US$27.7 billion in the first half of 2009.

Jones Lang LaSalle said while worries about a double-dip recession in the US and Europe may affect market sentiment in Asia, the reality is that Asian buyers who have ready available cash and low debt are likely to continue supporting the direct investment real estate markets in Asia Pacific.

It added that office capital values have been supported by the growth of rental values, with stabilising or compressing yields experienced in most markets.

Jones Lang LaSalle also noted that its clients continue to favour the core markets of Hong Kong, Singapore, Sydney/Melbourne and Tokyo.

Source : Channel NewsAsia – 15 Sep 2010

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