Asian Real Estate Market
Many of the Asian real estate markets were facing some hard times 2 to 3 years ago, but since the end of 2013 have been rebounding at great rates. Hong Kong, China, for example has shown over a 25% increase in purchases of small and medium sized homes, while higher end properties are showing over a 50% increase, which comes out to over 60,000 sales in 2014. It is becoming an optimum time to purchase real estate in China’s Hong Kong and Beijing areas.
Office spaces throughout Asia have also not been in much of a demand, meaning prices are probably lower than they may be in the next few years.
For the last few years, Tokyo Japan was faced with vacancy problems where families would move to a new residence without selling their previous homes because of the low market value. The families would wait for the market value to go back up before selling, which left thousands of properties unoccupied. A new economic upswing is helping that vacancy problem to drop considerably as more families are selling their vacant properties.
India is also expected to see an economic upswing after their recent election, which indicates that now is also a great time to purchase properties in India before prices rise.
With all of this great news about widespread economic recovery, it is becoming a prime time to look into making a purchase in Asian real estate markets in 2016 or 17.