21 January 2021, Malaysia – Knight Frank has released its Asia-Pacific Residential Review for H2 2020 - an investor focused report which provides an in-depth look at the performance of 24 residential markets across the region.
14 out of 24 cities tracked in the region recorded positive annual growth in H2 2020
The year-on-year average price growth for the region was 1.9%, up from 1.4% in H1 2020
The low interest rates in most residential markets continued to be a key driver of price growth in Asia-Pacific through 2020, and is expected to continue through 2021
General outlook for the region remains optimistic despite the pandemic's toll on economic activity in the recent months
Victoria Garrett, head of residential, Asia-Pacific said, “Despite an overall slowdown in sales activity due to the vulnerable economic state in 2020, we have witnessed a gradual rebound in most of the Asia-Pacific cities tracked in the later half. Moving forward, we hope to see the residential markets stabilise as housing demand and prices bounce back to pre-COVID levels.”
Dominic Heaton-Watson, Associate Director, International Residential Project Marketing, Knight Frank Malaysia, notes: “The main driver in 2H2020 has been the low interest rate environment which has buffered the weakening economic environment stemming from the aftershocks post COVID-19’s peak around the middle of the year here in Asia-Pacific.
He adds, “Resilience in economies & residential markets will depend on the smooth implementation of an extensive vaccine rollout in 2021 and support measures from Governments.”
Download Report: http://bit.ly/APACresireview2h2020