Japan and Australia remain the favourite countries for real estate development and investment, according to the Emerging Trends in Real Estate Asia Pacific 2016 forecast jointly published by the Urban Land Institute (ULI) and PwC.
Tokyo, Sydney, Melbourne and Osaka took four of the top five spots for promising markets in the Asia Pacific. Ho Chi Minh City was rated fifth.
The study, which surveyed 343 real estate professionals, ranked Singapore eleventh for investment prospects and ninth for development out of 22 regional markets.
Specifically, it pointed to a slow residential market here, mainly due to government actions in 2013 to stem soaring home prices.
“Given the current sentiments of Singapore’s property market, we’re seeing local players becoming more involved at a regional and global level as they explore, increase and diversify investments into other major markets such as Japan and Australia,” said Yeow Chee Keong, Real Estate & Hospitality Leader, PwC Singapore.
He added: “The residential market will continue to hope for an increase in the level of transactions, and that will be dependent on whether there will be modifications made to the cooling measures.”
Despite the tepid enthusiasm, the Emerging Trends report noted that “Singapore is always a market where institutions are looking to buy,” adding that a number of major property purchases are expected to be completed before the end of 2015.
Posted in Property Market / Real Estate
Tagged Australia, Ho Chi Minh City, investment prospects, Japan, Melbourne, Osaka, PwC, real estate prospects, Singapore, Sydney, Tokyo, ULI, Urban Land Institute
The Urban Land Institute (ULI) has selected local development, The Quayside Collection, as one of the 27 projects as finalists in the 35th annual ULI Global Awards for Excellence, which recognizes the best real estate projects across the globe.
Developed by Cityview Place Holding and designed by Axis Architects Planners, the mixed-used residential development offers a waterfront lifestyle to residents.
The selected finalists will be trimmed down into a smaller group to be announced in November during the ULI Fall Meeting in Chicago.
Commenting on the selection, Jury Chairman, M. Leanne Lachman, President of Real Estate Consulting firm Lachman Associates LLC in New York said: “From an impressive array of submissions, ULI’s Global Awards Jury selected 27 outstanding projects, each of which positively impacts its larger community – sometimes modestly, but often massively.”
“The finalists span the globe, from South America to Asia, from North America to Europe, and we are particularly happy to share that diversity. All projects exhibit innovations in design, sustainability, adaptability to their surroundings, financial solidity, and provision of enjoyment to their many users. In one way or another, each finalist wowed the jury, which will make selection of the winners a real challenge.”
Source – PropertyGuru – 28 Jun 2013