Asian Cities Research

Savills Research & Consultancy aims to offer objective advice to clients in order to help them make well-informed real estate related decisions and realise pre-defined goals.

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Jakarta Hospitality 1H 2015

 

Indonesia’s Travel & Tourism (T&T) sector is the 16th largest globally, in line with its GDP rank. By 2030, it is forecast to be a top ten GDP country and in the last decade to 2014, annual GDP growth has been 6% or above, whilst GDP per capita has quadrupled.

 
 
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Bali Hospitality 1H 2015

 

Indonesia’s Travel & Tourism (T&T) sector is the 16th largest globally, in line with its GDP rank. By 2030, it is forecast to be a top ten GDP country and in the last decade to 2014, annual GDP growth has been 6% or above, whilst GDP per capita has quadrupled.

 
 
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Beijing Retail 1H 2015

 

Retail sales in Beijing reached RMB909.8 billion in 2H/2014. Online retail sales continued to display particularly aggressive growth, up 68.3% during the same period. Meanwhile, urban disposable incomes per capita grew 9.2% year-on-year (YoY) by the end of November, with expenditure per capita registering growth of 6.4% YoY over the same period.

 
 
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Chongqing Office 1H 2015

 

Dubbed the “Chinese Detroit” due to its manufacturing based industry, both Chongqing’s economy and national status have witnessed rapid development since the establishment of the municipality. In 2014, Chongqing was ranked the most competitive city in western China and ninth nationally by GN Chinese City Competitiveness Valuation Indicator. Additionally, Liangjiang New Area ranked the most competitive new economic area nationally by the same institute, after Pudong, Shanghai (浦东新区) and Binhai, Tianjin (滨海新区).

 
 
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Guangzhou Retail 1H 2015

 

Guangzhou, the commercial and trade centre of southern China, has witnessed fast growth in both city construction and economic development in recent years. In 2014, Guangzhou’s GDP reached RMB1,670.6 billion, up 8.6% year-on-year (YoY), higher than the national level of 7.4% YoY.

 
 
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Hong Kong Residential 1H 2015

 

On February 27 2015, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Mortgage Corporation (HKMC) announced the latest round of prudential measures on property mortgages, which are summarised below: HKMAThe maximum loan-to-value (LTV) ratio for self-use residential properties with value below HK$7 million will be lowered by a maximum of 10 percentage points, i.e. the highest LTV will be reduced from 70% to 60%. The maximum debt-servicing ratio (DSR) for borrowers who buy a second residential property for self-use will be lowered to 40% from 50%, and the stressed-DSR cap will be lowered to 50% from 60%. The maximum DSR of mortgage loans for all non-self-use properties, including residential properties, commercial and industrial properties and car park spaces, will be lowered to 40% from 50%, and the stressed-DSR cap will be lowered to 50% from 60%.

 
 
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Osaka Residential 1H 2015

 

With Tokyo jumping to the top of many regional investors’ target list in 2014, the spotlight has gradually spread south to Osaka – Japan’s second biggest property market. Encompassing seven prefectures (including Osaka, Kobe, Kyoto and Nara), the Greater Osaka (or Kinki) region1, is home to an estimated 20.24 million people2. This makes it the eighth largest urban agglomeration in the world and places it not only above mature markets such as New York, Los Angeles and London, but also developing urban centres, such as Dhaka, Buenos Aires and Chongqing. According to United Nations estimates, Greater Osaka’s population is projected to grow by an additional 1.4% over the next five years to 2019.

 
 
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Kuala Lumpur Investment 1H 2015

 

At the end of 2014, the total stock of office space in Greater Kuala Lumpur  (Greater KL) stood at 96.6 million sq ft, a 2.9% increase from  2013’s total stock. Three office buildings were completed in Kuala Lumpur during 2H/2014, all of them in November-December: one in the city centre (Menara Hap Seng 2) and two in suburban areas of Kuala Lumpur (Menara MBMR and Sunway Velocity V Office). These three buildings represent about 720,000 sq ft of additional office space. In total, about 2.9 million sq ft of office space was completed in Greater Kuala Lumpur in 2014, which is less significant than in 2013, which saw a completion of 5.1 million sq ft with a substantial portion of that new supply located in KL Sentral.

 
 
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Seoul Hospitality 1H 2015

 

Since 2007, the average annual increase in the number of foreign visitors to Korea stands at 11.9%, showing a continued upward trajectory. In 2014, the figure climbed by 16.6% from the previous year to 14.2 million visitors. The Korean tourism industry still shows a high level of dependency(approximately 60%) on tourists from China and Japan. Tourists from Asian countries accounted for 82.4% of the total tourists to Korea. By country, China represents 43% (6.13 million) of all visitors to Korea, followed by Japan 16% (2.28 million), Taiwan 4.5% (0.64 million) and Hong Kong 3.9% (0.56 million). In 2014, the number of tourists from China and Hong Kong rose by approximately 40% year-on-year (YoY), continuing the upward trend from the previous year, while the number of Japanese tourists declined by 17%.

 
 
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Manila Retail 1H 2015

 

The Philippine economy posted the second fastest economic growth in Asia last year, beaten only by China. In the fourth quarter of 2014, Philippine GDP rebounded, posting a 6.9% growth supported by the Christmas spending, bringing the overall GDP growth to 6.1% in 2014 according to the National Statistical Coordination Board (NSCB). This is lower than the government’s target of 6.5%-7.5% last year, partly due to decelerated government spending.