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Several real estate markets across the world showed positive growth this year, albeit at a slower pace.
Consultants in markets such as the UK, Australia, New Zealand and China reported a positive year while those in Asian markets generally highlighted a slowdown and challenges due to factors such as weakening market sentiment, global economic slowdown and cooling measures imposed by the governments.
The performance of the different segments — residential, commercial, retail, hospitality and industrial — across all the markets was mixed. The office segment in Australia, Hong Kong and China, for example, was vibrant due to foreign investment while in the UK, the commercial segment was strong.
On the home front, the weaker ringgit did not spur the interest of foreign investors in Malaysian properties due to the unstable political situation here and wait-and-see attitude of the government on cooling measures imposed on foreign buyers.
Consultants have mixed views of the outlook for the property market in their respective countries. Moving forward, they continue to keep a close eye on US Federal Reserve interest rates, whose rise is expected to greatly impact the stock and property markets.
The following consultants supplied City & Country with their assessments of property markets in 2015, and how they might fare in 2016:
- Mat Oakley, head of Savills European Commercial Research, on the UK
- Willson Kalip, country head of Knight Frank Indonesia, on Indonesia
- Dominic Brown, head of Southeast Asia, Australia and New Zealand Research at Cushman & Wakefield, on Australia
- Carlby Xie, head of China research at Colliers International, on China
- Joanne Lee, senior manager of Hong Kong research and advisory at Colliers International, on Hong Kong
- Brent McGregor, senior managing director at CBRE New Zealand, on New Zealand
- Donald Han, managing director at Chestertons Singapore, on Singapore (and Malaysia)
Read the rest of the poll in the Dec 28 issue of City & Country, the property pullout of The Edge Malaysia. Tap here to subscribe for your personal copy.
TOP PICKS BY EDGEPROP
D'Carlton Seaview Residences (Seri Mega)
Masai, Johor
D'Ambience Residences (Ikatan Flora), Bandar Baru Permas Jaya
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Apartment Tanjung Puteri Resort
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D'Carlton Seaview Residences (Seri Mega)
Masai, Johor
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