High end property prices are falling in Shanghai and Hong Kong but rising in Jakarta, Bangkok and Mumbia, the latest report on Asian real estate shows.
Average capital values rose marginally by 0.2% in the fourth quarter of 2011, according to the latest Asia Pacific Residential index from Jones Lang LaSalle which tracks eight luxury residential markets in the region.
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.
‘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,’ said Jane Murray, head of Asia Pacific Research at Jones Lang LaSalle.