{"id":9456,"date":"2016-03-30T15:12:19","date_gmt":"2016-03-30T08:12:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-city-has-just-been-named-asias-most-powerful-property-market\/"},"modified":"2016-03-30T15:20:09","modified_gmt":"2016-03-30T08:20:09","slug":"this-city-has-just-been-named-asias-most-powerful-property-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-city-has-just-been-named-asias-most-powerful-property-market\/","title":{"rendered":"This city has just been named Asia\u2019s most powerful property market"},"content":{"rendered":"


\nNope, it\u2019s not Hong Kong
\nImage credit: Savills Japan
\nReal estate consultancy firm Savills has revealed that Tokyo is the most important market in Asia today, based on the 12 Cities report covering the first half of 2016.
\nThe study, which covers residential and commercial real estate, ranks cities based on global connectivity, economic indicators, power and competitiveness.
\nPlacing fourth globally, Tokyo averages USD69,800 per person\/year for living and work accommodation costs, nearly half the sum for top placer London (USD112,800 per person\/year).
\nSingapore (fifth globally) follows the Japanese capital, despite recording -6 percent and -3 perent rental growth rates in the residential and office segments, respectively, in 2015.
\nMore: The ultimate guide in overseas property investment in 2016
\nThe rest of the global top 12 are: London (1), New York (2), Paris (3), Hong Kong (6), Sydney (7), Los Angeles (8), Chicago (9), Dubai (10), Shanghai (11) and Moscow (12).
\nSavills notes that the growth is shifting back from East to West, noting the emergence of new cities that progress with \u201cgreat velocity\u201d alongside world-class cities. For example, Berlin and Dublin are now considered \u201cupstart cities\u201d bcause of their competitiveness in the digital age.
\n\u201cOur city ranking analysis highlights two things: first, that rent levels and growth are dependent on cities achieving \u2013 and then maintaining or growing \u2013 their competitive edge against other global cities,\u201d Savills stated in the report.
\nIn the last 10 years, Mumbai reported the largest capital growth in the world at 184 percent, followed by runners-up Shanghai (173 percent) and Hong Kong (167 percent). Singapore reported the highest 10-year capital growth in Southeast Asia at 105 percent.
\n
\nSource : property-report.com
\nRead more…This city has just been named Asia\u2019s most powerful property market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nope, it\u2019s not Hong Kong Image credit: Savills Japan Real estate consultancy firm Savills has...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-9456","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2sw","jetpack-related-posts":[{"id":2834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-if-you-combine-the-worth-of-all-real-estate-properties-in-the-world\/","url_meta":{"origin":9456,"position":0},"title":"What if you combine the worth of all real estate properties in the world?","date":"January 27, 2016","format":false,"excerpt":"\r You get USD217 trillion The total value of all developed properties around the globe has been revealed to be USD217 trillion, which is 2.7 times larger than the world\u2019s GDP. 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