Asian property markets face uncertain outlook

Amid signs of a global relapse into recession, sentiment in Asia’s real estate market continues to be cautious, according to a study released by PricewaterhouseCoopers PwC and Urban Land Institute ULI this month.

The Emerging Trends in Real Estate 2012 report identifies Singapore, Shanghai and Sydney as the most attractive destinations for investment, while Hong Kong dropped out of the top five for the first time in five years. It is now ranked a lowly 14th. Indeed, price inducements for office and retail properties in Hong Kong have doubled since 2009, leaving less room for profits. “The main view is that Hong Kong is essentially a fully priced...