Asia Pacific Real Estate Market Outlook 2H 2012

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The Beijing office market remained the clear outperformer by a notable margin as year-to-date rental increase reached circa 20%, according to DTZ. The strong income growth means year-end total returns will likely cross the 15% mark for the third year running.

In the residential space, whilst aggregate city level pricing has yet to reflect the level of developers’ discount, price cuts at the project level typically range from 10 to 30%. Demand/pricing growth for development land has been weak. In tandem with the purchase restrictions, mass residential pricing could be kept low over the near term.

Continued economic slowdown remains a strong mitigant to policy risk. The less-than competitive landscape coupled with weak developers’ balance sheets, is an opportunity to pick up good risk-adjusted residential investments. Prime pick will be for completed residential
projects in the mass market segment in tier 2/3 cities.

Source : UBS AG

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Mots-clés : UBS AG