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Colliers International recently released its latest predictions for the 2019 Asian property market. Andrew Haskins, Colliers’ Executive Director of Research in Asia, outlined that the markets are set to slow, especially in China, Hong Kong and Singapore due to trade disputes.
“Chinese real GDP growth will slow towards 6.0% in 2019, while Hong Kong and Singapore will also see lower growth in 2019 than in 2018,” said Haskins. “Japan and South Korea look more stable, while growth in India has rebounded sharply.”
Office rents are expected to diverge after an expected supply jump in China. Singapore is anticipated to see an 8% growth, while Shenzhen will see a 4% fall.
The logistics and industrial sectors are expected to continue growing thanks to e-commerce demand. Low vacancy is causing tenants to branch into Tier 2 cities in China.
While the retail market’s future remains uncertain due to rise in e-commerce, there is a new supply of retail space, but landlords need to put experience, digital connection and entertainment in order to succeed.
Investments totaled to $126 billion in 2017 and $122 billion and 2018. That number is expected to dip by 5% down to $117 billion in 2019 due to low activity in Hong Kong.
