Foreign Property News | Posted by Zarni Kyaw
Shanghai’s real estate investment and development prospects in the Asia Pacific region for 2019 continue to be rosy, according to a joint report by the Urban Land Institute and PricewaterhouseCoopers.
This is despite high prices and severe competition to secure assets.
The city was ranked sixth for investment opportunities and fifth for development prospects in 2019, slightly down from this year’s fourth spot in both categories.
The report was based on personal interviews with 89 professionals and more than 370 survey responses, mainly from developers, real estate consultancies, fund and investment managers, and institutional equity investors.
Melbourne overtook Sydney as the number one city in Asia Pacific for both investment and development prospects. Sydney, the previous report’s chart-topper, placed third in both investment and development rankings.
While ranking eighth in development, Singapore has seen its office market rebounding from cyclical lows, enabling the city-state to take the second spot in investment rankings.
Tokyo and Osaka also showed strong prospects for 2019. The former ranked fourth in investment and fourth in development, reflecting what has always made it a favorite among institutional buyers: cheap finance, attractive leverage, a good spread over interest rates, and a large stock of investment-grade assets. Osaka ranked fifth in investment, but sixth in development.
Ref: Propertyreport