Real estate is a sensitive subject because land and asset prices inflated rapidly during the 1980s economic bubble.
Prices of residential sites in Asia increased by 1.9% in the first half of 2016, down from 2.8% in the preceding six months, put office land increased from 1.9% to 2.2%.
Overall development land investment volumes in Asia matched the level registered in the corresponding period last year, according to the Prime Asia Development Land Index from international real estate firm Knight Frank.
As compared to the preceding six months, however, they were 40.4% lower and the index report explains that land markets tend to be more active in the second half of the year, which accounts for 60% of the transactions historically.
Hong Kong is the world's most expensive city for expats, leapfrogging Angolan capital Luanda in the annual chart compiled by consultancy firm Mercer.
Luanda, which had consistently topped the list in recent years, fell in the ranking owing to the weakening of its local currency.
Zurich and Singapore were third and fourth on the list, unchanged from a year ago. Tokyo rose to fifth.
Asian cities command half of the world's top ten most expensive office space, according to a new survey by property firm JLL.
Hong Kong topped the rankings followed by London and Beijing.
JLL said it costs $262 per square foot per year for top-quality office space in the Chinese territory because of strong tenant demand and short supply.
Shanghai, Tokyo and Delhi also made the list, with the city state of Singapore missing the top ten by just one spot.
"A large part of the global growth is now driven out of Asia and international businesses will continue to be keen to set up their presence in the region," Chris Archibold, head of markets at JLL Singapore said.
New York and Boston were considered fair-valued, leaving 12 of the 15 cities surveyed overvalued
Certain parts of the Japanese housing market are seller’s markets, especially Tokyo.
“The market can be characterized as a seller’s market in the center of Tokyo, but as a buyer’s market in other areas,” said Jiro Yoshida, an assistant professor of business at Pennsylvania State University. The demand for housing in central Tokyo is strong because of investors from China and because of Abenomics, the economic stimulus program of Japan’s Prime Minister Shinzo Abe.
Commercial land prices in Japan's three largest metropolitan areas rose 2.3 percent in the 12 months ended June 30, extending gains as low interest rates spurred property acquisitions, a government survey showed.
Mitsubishi Estate has already redeveloped a significant portion of Tokyo's Marunouchi district and turned the area into Japan's financial hub
The price of prime residential development land in Asia slowed to 1.1% in the first half of 2015, down from 3% in the previous six months, but prime office land increased to 3.6%, up from 2.5%.
The latest prime Asia development land index from international real estate firm Knight Frank also shows that Phnom Penh in Vietnam recorded the strongest increase in both prime residential and office land price.
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