, APAC

APAC home prices to rise by 3-5% this year

Thanks to pent-up demand for properties in safe-haven markets.

Going into 2022, analysts at Knight Frank expect capital appreciation to continue its sustained momentum. The lack of stock in key markets in Asia Pacific is unlikely to be rectified in the next 12 months, and the low interest rates are expected to drive sale and rental activity in the residential sector.

Here’s more from Knight Frank: 

Appetite for home purchases will also see improvements from foreign buyers, as more travel restrictions are being lifted across APAC. Pent-up demand for properties in key safe-haven markets will result in further price growth. Overall, residential prices across the region are expected to grow approximately 3-5% in 2022. 

Potential government interventions could kick in to hamper demand in some markets, but the likelihood is not even. While most of the APAC markets are unlikely to see cooling measures, some markets where prices have moved ahead of fundamentals such as Australia and South Korea could potentially see some additional measures to ensure the stability of the residential market. 

Cities offering larger home sizes and better amenities will be a key factor in homebuying decisions in view of the great talent reshuffling around the region, as health and well-being, and flexible work arrangements are being prioritised by this group.

 

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