Savills cautious about Asian property market | This is Money

Savills cautious about Asian property market | This is Money

Upmarket property firm Savills expects fewer transactions in Asia in 2011 following the Japan disaster and curbs on property speculation elsewhere in the region.

'In the near term, it is unclear how markets will react to the recent catastrophic events in Japan, particularly at a time of unprecedented global economic and political change,' said chief executive Jeremy Helsby.
'For the markets of mainland China, Hong Kong and Singapore these events come on top of government measures of the last 12 months to address property speculation.'

He said it was too soon to be certain, but any slowdown in Asia should be largely offset by improved performance elsewhere.