RCA in the commercial property press:

Asia Pacific’s Major Markets’ Strain

Asia Property Report reports: As 2009 investment trends in global zones have come into focus, China’s thumb on the scale of the Asia Pacific region has grown larger and heavier, accounting for more than US$127 billion of the $177 billion in total volume year-to-date in the region, which has actually seen volume grow 4% this year.

Excluding China, though, this puts Asia Pacific’s volume at $49.9 billion, a 49% decline from 2008. That is still a significant transaction volume in this marketplace - Asia Pacific’s non-China year-end totals will roughly equal or possibly surpass the United States’ activity. As in China, though, development rights sales drove volume in most of the seven countries in this zone that vie for most of the non-China-targeted investment dollars, whether domestic or cross-border: Japan, Hong Kong, Australia, South Korea, Taiwan, Singapore and India, each of which exceeded $1 billion in sales through November.

The country with the only year-over-year increase was Taiwan, up 3% on $4.3 billion in sales, followed by Hong Kong, down only 13% on sales of $7.5 billion. Much heftier slides were recorded by South Korea, down 51%, on volume of $5.6 billion; Japan, down 58%, following a sudden slide in the third and fourth quarter on sales of $16.5 billion; and Singapore, off nearly 65% with $3.2 billion in sales through November.

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Posted by: Mark Alferman

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