Bangkok remains ahead of the pack in asia's luxury residential market
High prices and mortgage rates are deterring buyers in parts of the region, but despite a labour shortage, strong demand and limited supply have left Thailand with the advantage
- Published: 24 Feb 2013 at 00.00
- Newspaper section: Spectrum
With the spotlight on Asia, its luxury residential market is on many investors' radar. But within Asia itself, the investment choices are many and diverse and it is important to have an understanding of the key markets to ensure a sound investment decision.
Overall as a region, luxury home prices in Asia have increased progressively, with a recorded price gain of 1.5% quarter-on-quarter according to the CBRE Asian Luxury Residential Price Index. This has been partially driven by the economic growth in Asia Pacific, the revival in growth in China and reduced concerns over the eurozone debt crisis.
Steady price growth was seen in first-tier cities in China including Shanghai and Beijing despite cooling measures, while Southeast Asian markets such as Bangkok, Kuala Lumpur and Manila saw a range of price increases driven by positive buyer sentiment with continued economic growth.
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