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As the year draws to a close, Knight Frank has put together a four part round up which looks how residential property markets have fared across the Asia Pacific region in 2016 and the outlook for 2017. 2016 has been an interesting year for residential markets in Asia-Pacific, with a huge divergence in terms of price performance and activity.
The ASEAN Economic Community (AEC) is set to commence at the end of this year.
The first half of 2014 saw Knight Frank’s Prime Asia Development Land Index advance 4.9% and 2.9% for residential and office sites respectively.
In July, demand for new-build residential properties was the key driver of Hong Kong’s residential market.
Sentiment and activity in Hong Kong’s residential property market improved in June, with buyers taking advantage of the recent relaxation of Double Stamp Duty.
The volume of residential property sales in Hong Kong rebounded in May as developers continued to offer buyers attractive deals on new schemes.
In the residential sector during March, developers in Hong Kong continued to launch primary projects with various sweeteners, while in the re-sales market, sellers became less aggressive with asking prices and more flexible during negotiations.