15 May '13, 7am

Is the Heat off Asia’s Hottest Property Markets?: Property markets in Hong Kong and Singapore have turned red ...

Is the Heat off Asia’s Hottest Property Markets?: Property markets in Hong Kong and Singapore have turned red ...

Property markets in Hong Kong and Singapore have turned red hot in recent times pushing buyers out of the market and raising fears of a bubble. But research from real estate services firm Jones Lang LaSalle suggests some of this heat could be coming off. According to Jones Lang LaSalle's Residential Index - which measures luxury residential markets across Asia - Hong Kong and Singapore were the only two out of nine profiled markets which saw prices come down. Hong Kong's luxury property prices fell 1.1 percent quarter on quarter over January to March, while Singapore came down 0.6 percent. (Slideshow : World's Most Expensive Real Estate Markets ) Jones Lang LaSalle's Residential Index monitors luxury apartments, condominiums, detached and semi-detached housing located in prime areas. Analysts say the luxury residential market offers a good indicator of the mass property ma...

Full article: http://www.cnbc.com/id/100733988

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