Despite Singapore being one of the few AAA-rated Asian countries, its strong reliance on trade and exports means that the economic performance of its larger US and European counterparts cannot be ignored.
The latest data from the General Statistics Office of Vietnam indicates that inflation in Vietnam accelerated to 2.2 per cent in September over August 2012, the fastest pace that had been seen in 16 months in the country.
Asia is moving toward a self-sustaining cycle with on-going trade surpluses, with banks in better financial shape than in the West. Banks in developing countries are looking forward to a decade of profitable growth.
Latest data from Singapore shows that demand for new residential properties has fallen in June 2012 for the second consecutive month. Sales volume for private residential units went down by 20 per cent.
Taking a look at the recent Asia Pacific GDP growth statistics you could be forgiven for thinking that there are storm clouds on the horizon. All the major countries in the region have had their GDP forecasts revised downwards.
Singapore has experienced a shift in capital over the past five years, with more money flowing into non-residential strata properties as investors start to view them as an alternative to residential properties.
Over the past five years, Bangkok has welcomed 1.25 million square meters of new retail space, an increase of nearly 25 per cent, bringing the Thai capital much closer towards its goal of being a shoppers’ paradise.
The news about the growth of the Philippine economy is also positively affecting the Philippine property market. Heightened confidence is expected to fuel the growth of property-related demand in the short- to medium-term.