Asia Pacific Residential Real Estate News
Asia Pacific Residential
Global Residential Rents Surge 300 Percent Their Prepandemic Growth Rates in 2023
Based on the 10 cities covered by Knight Frank's Prime Global Rental Index, global rental values rise 7.5% in the year to June. While this rate was down from the 8.2% seen in Q1, and lower still than the 12.2% growth reached in the first quarter of 2022.
Hong Kong Residential Sales Slowing in 2023 from Economic Uncertainty
Amongst Hong Kong projects completed in the first half of 2023, only 55% of units were sold as of the end of June 2023, lower than the average sell-through rate of 78% over the last five years, a sign of the slowdown of residential sales.
Dubai Leads the World for Residential Property Price Growth in 2023
Based on new data by global property consultant Knight Frank, surging inflation and constant mortgage rate hikes in 2023 have hobbled many mainstream property markets, worldwide. While many property markets have borne the brunt of this pain, property sales volumes, not home prices, have been the greatest casualty to date.
Macau's Property Market Recovery Dampened by Interest Rate Hikes in 2023
According to JLL's Macau mid-year 2023 property market review, the reopening of borders in the early part of this year buoyed the retail leasing market significantly in Macau. However, the weakening global economy and mainland China's slowdown coupled with the interest rate hikes has affected the recovery of the local real estate market.
