Asian property markets remain firm
Despite headwinds, such as the general economic slowdown, trade situation between the United States and China, and the social situation in Hong Kong, the fundamental attractions of Asia’s top occupier locations, such as Singapore, Tokyo, Shanghai, and even Hong Kong, remain little changed, notes Colliers’ annual Asia Market Outlook report for 2020 released in January. Furthermore, economic prospects for the region have recently brightened, due partly to an easing of US-China trade relations, while the rapid growth of Indian cities and the emergence of new mega-regions in China is creating new centres for occupier expansion.
The Indian cities of Bangalore and Hyderabad are expected to be two of the three fastest-growing Asian cities between 2020 and 2024 (see also the “JLL City Momentum Index” chart, page 10). In China, Shenzhen and Guangzhou should also outperform both the national and Asia city averages.
Here are four key takeaways from the report: