Markbericht Asien Oct09

Strong public policies have significantly alleviated the fear of an economic meltdown and somewhat shored up the confidence of investors in Asia.

Executive Summary

• Economic indicators in the third quarter point to stability in Asia. China and India are key sources of growth, while smaller Asian countries will likely see soft landings in 2009.
  
• Credit spreads in Asia continued to trend down in the quarter, a sign of the growing confidence of investors. That has made banks more willing to finance commercial real estate.
  
• Sentiment in the property market grew more positive in the quarter, which helped to ease the downward pressure on office rents and capital values. However, the lack of capital investments and new developments will delay any market recovery.
  
• Consumer spending in the region remains selective. Retailers are holding back expansion plans until economic fundamentals strengthen further.
  
• The housing markets in China, Korea, Hong Kong and Singapore were bright spots in the quarter. Demand for units has translated into high sales volume and rising prices.