Sustained Asia Pacific recovery in 2022, says ULI

Japan and Australia are expected to enjoy an upbeat economic outlook in 2022 with faster growth rates compared to Hong Kong, China, Singapore and South Korea, according to the ULI’s Real Estate Economic Forecast for the Asia Pacific region. 

Other key highlights include:

Australia is projected to lead in 2022 with the strongest economic growth out of the six markets covered by the forecast, with GDP likely to expand 4.48 percent in 2022, well above its long-term average. Japan’s economy is also forecast to grow five times faster this year at 2.25 percent from 0.45 percent in 2021. Other markets, including Hong Kong, Singapore, China and South Korea, remain resilient this year, with expected slower growth rates of 1 percent, 3.35 percent, 4.85 percent, and 2 percent, respectively. Expectations of faster inflation in the region temper upbeat sentiment on Asia Pacific’s outlook. Inflation rates in the markets surveyed, with the exception of