Want to share in the south east Asian economic miracle? Think again. This region has been popular with investors from around the world wanting to cash in on its booming housing markets but website, The Global Property Guide's enthusiasm is waning. Taiwan is “overvalued”, Indonesia “sluggish”, Thailand “weak” and Vietnam “uncertain” it says.
A Cushman and Wakefield Vietnam survey shows only 14 per cent of new luxury apartments in Ho Chi Minh City were sold in the first eight months of 2010. In China, the bubble is expected to burst in major cities like Beijing and Shanghai where few residents can afford high property prices.
A glimmer of light for the Philippines – Benigno Aquino's landslide election victory may end political and economic uncertainty there, but has not done so yet. And more cold water - the Guide calculates the combined costs of buying and selling homes in Indonesia and Philippines for foreigners can reach 25 per cent of a property's value.
- ALL THE WORLD'S A HOME -
http://globalpropertynews.bogspot.com
Great post! Very informative. I also heard about that The Global Property Guide's enthusiasm is waning. I hope it wouldn't continue for a long time. thanks for sharing.
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