2007
was a rollercoaster year for global property investors. The sub-prime situation
and subsequent credit crunch left America
with falling house prices, whilst the second half of 2007 saw the UK market
plateau. So far, the rest of the world has been relatively unscathed from the
crisis, says a Hong Kong-based property investment firm, and investors in Asia saw double digit growth in the value of their
capital investments and strong rental yields.
Looking
ahead, investors will need to reframe their portfolio thinking, says Tim
Murphy, Managing Director & Founder of Intellectual Property. “China’s growth is starting to slow in Beijing and Shanghai,
and affordability is tight not withstanding the luxury end which seems to have
no barriers to growth,” says Murphy.
“Increased
urbanization (for instance Chongqing
is urbanizing 400,000 people per year) and wage inflation will make second- and
third-tier cities a strong investment opportunity,” he adds. “Markets such as Qingdao and Chongqing
look to offer great value and due to foreign purchasing laws, there are
opportunities for serviced apartment blocks in these markets.”
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