23 Nov 2017
Hong Kong is currently dominating Asia’s property investment market with the region claiming real estate sales of $8,269m during the first half of 2017 alone, according to an annual property report from PwC.
That’s a year-over-year increase of 5%. Far behind in second place was Tokyo with sales worth $6,207 million, whilst Shanghai and Singapore completed the top four, claiming $5,854m and $5,801m respectively.
The figures came from the “Emerging Trends in Real Estate Asia Pacific 2018” report and was collected by Real Capital Analytics.The study also covered rankings in terms of future potential Asian investment hotspots and was based on predictions and interviews with 600 industry experts by the professional services firm, the South China Morning Post reported.
This part of the report saw Hong Kong rank a lowly thirteenth as a potential investment target for whilst Sydney, Melbourne and Singapore making up the top three.
Vice-chairman of ULI Hong Kong and managing director at Asia’s Colliers International, David Faulkner said: “In spite of a lack of investment opportunities due to high prices and a relatively illiquid market, activity in Hong Kong is increasing. Chinese investors, in particular, are continuing to invest in the city and there are lots of opportunities for the savvy investor”.