Young adults residing in key Asia Pacific cities are struggling to stay afloat as they move up to assume key positions across the world and eventually drive the global economic engine, according to analysts.
Mumbai’s real estate market is likely to shake off the blues over the next few weeks helped by Indian Prime Minister Narendra Modi’s sharp moves to repeat his economic success in his home state Gujarat across the nation, and an upcoming festival.
With a reported 30.4 percent increase in real estate investments last year, the Japanese city was recently named the biggest commercial property market in Asia.
One of India’s largest developers, Lodha Group, recently announced that it would be investing an estimated GBP3 billion (USD4.86 billion) to cement its presence in prime central London.
A typical billionaire spends an average of USD94 million, or 3 percent of their total net worth, on real estate, according to the latest Billionaire Census from Wealth-X.
As some Asian markets experience temporary slump in their domestic property sectors, several offshore investors from the region continue to splurge on real estate purchases around the globe.
Two India-based companies recently announced their partnership with Southeast Asian firms to collaborate on real estate and infrastructure projects around the region.
Malaysian niche developer Gabungan AQRS Bhd has announced the second phase of its The Peak luxury condominium development after receiving approval from Iskandar’s local council.
Several luxury residential markets in the Asia-Pacific region experienced a sales slump in the second quarter, causing price growth to stall in certain cities, according to property consultancy firm JLL.
International property investors are capitalising on India’s new regime’s policies to pursue various real estate ventures in the country.
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Chinese investors who buy residential real estate abroad have picked the Golden State as their favourite investment destination in the United States, according to Washington, DC-based National Association of Realtors.
Australia’s REA Group, operator of the country’s largest online property portal, has purchased a 17.2 percent stake in Kuala Lumpur-based iProperty Group for AUD106 million (USD100 million).
Indonesia leads the Asia-Pacific region as the most efficient and transparent developing commercial real estate market, says New York-based real estate brokerage and consulting firm Cushman and Wakefield.
Despite calls from the International Monetary Fund (IMF) to advance measures to prevent a property bust, the United Arab Emirates real estate continues to grow as developers remain bullish on the market.
With an 11 percent year-on-year decline in tourist arrivals, Bangkok has been surpassed by London as the most visited city for international travellers.
International property consulting firm JLL looks to expand its residential business in Southeast Asia with the opening of its latest office in Kuala Lumpur.
Improvements in transport infrastructure are driving up the residential real estate potential of several key cities in the region, according to the Asia-Pacific Residential Review June 2014 by Knight Frank.
Several Asia-based property firms are mulling global expansion by targeting regional and foreign markets.