Price Waterhouse Coopers (PWC) just released its annual property Investment Prospect ranking.
Noticeable, Jakarta jumped from 11th place in 2012 to an expected position as the number one spot next year. Kuala Lumpur from 17th place to 5th place. And Bangkok also made a significant move, jumping from 14th place this year, to an expected 6th place next year. Manila also jumped from 18th place to 12 place. Singapore fell from 1st place in 2012 to 3rd place in 2013.
- Of Asian property market, Wikipedia says:
Ever since the 1997 Asian financial crisis, property markets have greatly developed through the years. Asian governments have improved the financial stance associated with the structure of housing finance, allowing more access to a diverse range of mortgages products.
Housing in Asia has an important role in economic growth. In the early 1990s large urbanization in Hong Kong, Singapore, Thailand, Philippines and other Southeast Asia countries brought about a large housing price appreciation. Asia attracted global economic interest up until the economic crash of 1997. A decade later, the Asian economy has been stabilized, and has allowed the property market to advance. As a result, foreign investment is continuing to grow. The market is currently experiencing a 50% increase in the amount being invested into Asian countries globally. Although some countries in Asia may not be stable enough for international investment, the majority of the markets are expected to boom.
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