Daily News and Transactions across Greater China from Knight Frank
Cooling measures and weak global economy temper strong underlying demand in Asia
Jun 12, 2012
(Oriental Daily / The Sun)
According to Knight Frank, continued government intervention in property markets across Asia led to a quarterly drop in mainstream prices across Malaysia, Taiwan and Singapore. China continued to see prices on a downward trend, with the central government resolute in managing a soft landing.
The Chinese housing market has had a tough 12 months as developers and purchasers alike have had bank finance squeezed. The market is likely to continue to correct before a possible gradual relaxation of the policies through 2013.
Mainstream prices in Hong Kong bounced back by 1.4% in Q1 2012 from the previous quarter. Although prime central markets are unlikely to be affected, the increase in land supply focusing in the New Territories could have a cooling effect on prices in the coming years.
Knight Frank Greater China Property Market News Summary