Singapore has been named as the top Asian
destination for real estate investment, with Shanghai, Mumbai and Hong Kong also expected to perform strongly in the coming year.
Strong economic growth and brisk activity in the financial and high-tech industries helped Singapore take the top spot, according to the survey jointly published by the global non-profit Urban Land Institute and PricewaterhouseCoopers.
Meanwhile, sharp increases in property values dampened investor interest in Shanghai which fell to second, from first in the previous annual survey, Money Control reported.
The survey was carried out before Hong Kong announced even harsher tightening measures to cool its residential market but this would not have affected the final standings, analysts 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. "Residential doesn't drive the market."
Mr 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
- Tuesday 07 December 2010