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20. Februar 2012 
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Real estate sales volumes in Asia Pacific down 32%
Real estate transaction volumes in Asia Pacific as at 31 December 2011 decreased by 32% year-on-year to US$85.3 billion, and have moderated 18% since the end of Q3, according to a quarterly report produced by the Asia Pacific Real Estate Association (APREA), which promotes and represents the Asia Pacific real estate asset class, and Real Capital Analytics (RCA).
Peter Mitchell, CEO of APREA, commented, “Concerns over the Eurozone debt crisis contributed to the moderation in the fourth quarter. A strong performance by Singapore helped mitigate the declines in other countries.” The decline was seen across all industry segments. Transactions in hotels fell 23%, commercial property 20%, land 17%, and apartments 8%. Stripping out land transactions, Japan led in regional sales volume, accounting for 22% of Q4 sales. This was followed by Australia with 17% and Singapore with 16%.
Relative to Q3, transaction volume saw gains in Singapore and South Korea, where volumes rose 112% and 44% respectively. The largest dives were in Hong Kong and China, which were down 56% and 41%. According to the report, cross-border entities were net buyers in Q4 though crossborder acquisition activity had begun to decline.
Global cross-border investment into Asia Pacific accounted for only 6% of regional acquisitions in Q4, down from 16% the previous quarter. Intra-regional cross-border investment also moderated to 12% of regional acquisitions, from 17% in Q3. “Transactions in the region are continuing to be dominated by domestic players”, Mitchell said.
Private entities’ were also less active in Q4, on both the acquisition and disposition fronts. Listed entities/REITs made up the difference, doubling their proportionate purchases relative to Q3 to 36%, and increasing their proportionate sales to 27% from 17% the previous quarter.
Major transactions in the quarter include Festival Walk in Hong Kong, Wave Mega City Centre in India, and a stake in Singapore’s Ocean Financial Centre.
Peter Mitchell, CEO of APREA, commented, “Concerns over the Eurozone debt crisis contributed to the moderation in the fourth quarter. A strong performance by Singapore helped mitigate the declines in other countries.” The decline was seen across all industry segments. Transactions in hotels fell 23%, commercial property 20%, land 17%, and apartments 8%. Stripping out land transactions, Japan led in regional sales volume, accounting for 22% of Q4 sales. This was followed by Australia with 17% and Singapore with 16%.
Relative to Q3, transaction volume saw gains in Singapore and South Korea, where volumes rose 112% and 44% respectively. The largest dives were in Hong Kong and China, which were down 56% and 41%. According to the report, cross-border entities were net buyers in Q4 though crossborder acquisition activity had begun to decline.
Global cross-border investment into Asia Pacific accounted for only 6% of regional acquisitions in Q4, down from 16% the previous quarter. Intra-regional cross-border investment also moderated to 12% of regional acquisitions, from 17% in Q3. “Transactions in the region are continuing to be dominated by domestic players”, Mitchell said.
Private entities’ were also less active in Q4, on both the acquisition and disposition fronts. Listed entities/REITs made up the difference, doubling their proportionate purchases relative to Q3 to 36%, and increasing their proportionate sales to 27% from 17% the previous quarter.
Major transactions in the quarter include Festival Walk in Hong Kong, Wave Mega City Centre in India, and a stake in Singapore’s Ocean Financial Centre.
