ULI expands APAC Home Attainability Index to include three cities

The index now includes Bangkok, Kuala Lumpur, and Perth.

The Urban Land Institute (ULI) Asia Pacific has expanded its Home Attainability Index to include Bangkok, Kuala Lumpur, and Perth, bringing the total to 48 cities analysed this year. Alan Beebe, CEO of ULI Asia Pacific, elaborated on the importance of these additions and the role of the index in informing regional housing policies.

Beebe described the inclusion of the three new cities as a strategic move to enrich the institute's data set. "The reason that we added these three cities is to further enrich our data and to ensure that we have a data set that reflects some of the changes going on in the region," he said. He highlighted that the rapid urbanisation in Bangkok and demographic shifts in Kuala Lumpur are key factors in these cities’ inclusion.

The index, which has been developed for three years, serves as a crucial tool for policymakers. Beebe noted, "We use this data in order to really inform policymakers all across the region in terms of how to make homes more attainable." This focus on data-driven insights aims to tackle the acute stress on housing affordability seen in these growing urban areas.

Discussing the broader impacts of urban regeneration on home attainability in the Asia Pacific, Beebe emphasised the necessity of public-private partnerships. He pointed out that while urban regeneration itself does not guarantee higher home attainability, collaborative efforts can lead to significant improvements. 

"Improvements in infrastructure can result in higher density housing at the same time, it can promote economic development and have the opportunity for higher density of housing," he explained. 

The CEO also touched on the unique situation in Singapore, where public housing is highly attainable while private homes remain among the most expensive in the region. Beebe praised Singapore's balancing act: "Singapore has done a very good job in terms of balancing the need for housing with affordability." He highlighted the proactive measures taken by the government to regulate housing prices, such as increasing stamp duty for foreign buyers to stabilise the market during price surges.

Comparing Asia Pacific's housing attainability with other regions, Beebe acknowledged the global challenge of making homes affordable. He cited proactive steps taken in European countries like Germany and the Netherlands to increase housing supply as examples of effective public policy. In contrast, the U.S. showcases high ownership rates among younger individuals due to attractive financing options.