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Jones Lang LaSalle releases Q4 2011 Asia Pacific Residential Index
HONG KONG AND MACAU, 3 February 2012–Jones Lang LaSalle’s latest Asia Pacific Residential Index, which tracks eight luxury residential markets in the region, found that average capital values rose marginally by 0.2 percent in quarter four 2011, compared to the previous quarter. Beijing, Bangkok, Jakarta and Mumbai saw an increase in capital values during the quarter, prices remained stable in Singapore and Kuala Lumpur and declined in Hong Kong and Shanghai.
Looking ahead, Jane Murray, Head of Asia Pacific Research at Jones Lang LaSalle said: “We expect a multi-speed luxury residential market in the Asia Pacific region in 2012. We think prices in China will soften further, though developers are likely to introduce only moderate price discounts due to limited supply in prime locations. Prices in Hong Kong and Singapore are expected to decline over the year due to projected rental correction, tighter credit and government measures; that said generally low holding costs will limit the extent of price correction. Whilst prices in Kuala Lumpur and Bangkok are expected to stay flat, we anticipate Jakarta prices to be boosted by Indonesia’s strong economy.”
Key highlights of Q4 2011:
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