What to Expect from Asian Housing Markets in 2014
With bubble concerns in places like Singapore and Hong Kong, some Asian housing markets are cause for concern while others are promising in 2014.
In many Chinese markets, values are set to decline. In Hong Kong that number is expected to be as large as 10%, while a major tax has been applied to foreign buyers. This 15% figure could scare away large sums of investment funds and will surely contribute to that drop in sales and value.
Another Asian housing market that is showing signs of strength and promise is that of Japan's capital city, Tokyo. With no restrictions on buyers and a hosting seat at the 2020 Olympic table, property values are set to increase by 20% in some local markets.
Indonesia's capital city, Jakarta, showed the greatest value increases in the world with a whopping 27.2% increase. This came as a surprise to global markets, as there are buyer restrictions as well as declines in local currency.
Bangkok, Thailand presented 2.5% gains while Malaysia's Kuala Lumpur showed 6 percent gains. The Philippines' capital of Manila came it at 3.4% gains for the year.
We'd love to hear your thoughts about the Asian housing markets in our comment section below. Be sure to leave us your opinions, we welcome an open dialogue.
What do you think about these 2014 market predictions? Do you see similar trends in your market?
Image Courtesy of Padmanaba01‘s Flickr