Resilience continues to characterize the property markets of Asia Pacific as some performance indicators have defied the gloomy global sentiment. Most property sectors in a majority of cities of the region continue to exhibit rebounding fundamentals, albeit more modest in some cases compared to the strong rebounds of 2010 and 2011. Vacancy rates continue to move downwards in the region with only a few exceptions and there is plenty of evidence of rental growth and capital value growth in many of these markets. The middle-income targeted residential markets in a number of cities across China have continued their rebound in terms of both price and volume. This has been driven especially by first-time homebuyers and some upgrading end-users, with affordability enhanced by the price falls of the past year or so and ongoing strength in household income growth and savings rates. Overall transaction volumes in the region have been strong and the listed real estate markets have notched up a very strong rebound, year-to-date.
Source : CBRE Global Investors