Government cooling measures in China, designed to curtail the red hot real estate market in the country, could prompt investors to look elsewhere for buying opportunities.
This is the view of a number of speakers at a property forum organised by NUS-Institute of Real Estate Studies, with many citing India as the next big market for buyers,
Today Online reports
Indeed, GIC Real Estate managing director Goh Kok Huat said property prices in India had risen sharply following the liberalisation of the real estate market in 2005. In the last five years, property prices have surged by 50 to 100 per cent, mainly due to private equity pouring into the country.
Looking ahead, property prices could still grow by double-digit percentages as rapid urbanisation drives demand for housing.
"I would favour residential primarily because of the high rate of growth and urbanisation. I would favour office sector in key cities and I would probably stay away from luxury hotels and retail malls due to a huge supply in the short term," Mr Goh said.
- Monday 20 September 2010