HONG KONG & SINGAPORE, Nov 24 (Bernama-BUSINESS WIRE) — The 17th edition of the Emerging Trends in Real Estate® Asia Pacific Report, the regional real estate forecast jointly published by the Urban Land Institute (ULI) and PwC highlights a downtick in investor sentiment due to concerns over the rising cost of debt, higher inflation, and a looming global recession. The report is based on a survey of 233 real estate professionals and 101 interviews with investors, developers, property company representatives, and lender brokers.
The persistence of global inflationary trends, a recessionary economy, and deterioration of global indicators saw investors opting to suspend buying until the fallout from synchronised global rate hikes becomes clearer. A dip in regional transaction volumes is apparent, with third-quarter deal count in the Asia Pacific falling 38 percent year-on-year to US$32.6 billion, recording the lowest third-quarter volumes for a decade in the region. Mainland China accounts for the biggest decline with a fall of 23 percent year-on-year.