48 (Borey Chey Ou Dom) st.369, Sangkat Prek Prar, Khan Mean Chey, Phnom Penh.
199 (Borey Piphub Tmey) st.25, Sangkat Steng Mean Chey, Khan Mean Chey, Phnom Penh.
Hong Kong, Mumbai, Shanghai and Dubai are set for prime residential property price declines this year as purchasers and investors respond to a more uncertain global economy, tighter market regulations, and rising debt burden, predicted Knight Frank analysts.
Luxury residential prices in Hong Kong will see a slide of 10 percent this year as concerns mount on higher borrowing costs and a new vacancy tax, , according to Knight Frank's prime residential forecast, part of their latest annual Wealth Report.
Luxe Shanghai home prices will likely decline three percent. In Dubai, a slide of two percent in luxury prices is expected, while Mumbai will see falls of five percent.
Singapore and New York will see prices remain static.
“Tax and regulation will continue to drive market performance in 2019. Those markets that have led innovation in these areas, especially Hong Kong and Singapore, will see lower growth as buyers adjust to new taxes and restrictions,” said Liam Bailey, global head of research for Knight Frank.
Madrid, Paris and Berlin top the consultancy’s 2019 forecasts. Each market is pegged for prime home price rises of 6 percent, thanks to healthy tenant demand, relative good value and an attractive lifestyle offer.
“These markets have become increasingly popular investment hubs for European and global investors, with a growing presence from Chinese residential buyers,” said Bailey.
Elsewhere in Asia-Pacific, Sydney is slated for prime home price growth of two percent. Melbourne and Auckland are also set for a rise of one percent each. (Property Report)