Residential property market activity in Asia is likely to be subdued this year given the impact from Europe’s debt crisis, while concerns still linger about bubbles forming and bursting in this region as happened 15 years ago.
Warnings have already been sounded in Hong Kong of a possible bubble if proper policies are not put in place, while in China the government has taken several steps to curtail real estate speculation
Prices of residential projects in many Asia-Pacific countries are flat or declining, led by the biggest market, China. Hot spots such as Singapore are also facing price declines in many residential projects.
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