Business News

Asia-Pacific property boom expected to stay robust

Jan 25, 2007, 6:35 GMT

Singapore - The Asia-Pacific real estate market is likely to stay robust this year with significant investments from Europe, the Middle East, the United States and from within the region, a property consultancy's report said on Thursday. 'Business sentiment remains buoyant, and corporations continue to expand,' said Jones Lang LaSalle (JLL). 'Investment activity remains solid.' With new quality supply remaining tight and demand staying firm, rents were also forecast to increase further. The property consulting giant noted that increases in values were registered in all sectors across the region last year. It mentioned trends which will have a profound impact on the strategies of property players. Among them is the growth of the securitization market, particularly real estate investment trusts (Reits). 'The fast-growing Reit market in Asia has helped deepen and widen the real estate capital markets,' said Jane Murray, JLL's Asia-Pacific head of research. New business set-ups and corporate expansion are fuelling the take-up of office space, spurring hikes in rental and capital values. JLL also drew attention to industrial properties. 'Asia's status as the world's workshop has funnelled demand for manufacturing and logistics space from a wide spectrum of industries,' the consultancy said. © 2007 dpa - Deutsche Presse-Agentur

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