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RICS Global RE Weekly: HK residential activity may get post Chinese New Year boost

HONG KONG, April 24 /PRNewswire-Asia/ -- There have been some signs of late that the robust turnaround in the market over the last year is beginning to be reined in as worries grow over potential overheating in the property sector. Nevertheless, RICS believe that recent improvements in the labour market and the still elevated levels of mortgage activity are likely to foster further price gains albeit at a more modest rate in the coming quarters.

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UK Commercial Property Survey shows further gain in letting activity

The latest RICS UK Commercial Property Survey was released Thursday this week and indicates that lettings activity for business property continued to pick up in Q1, albeit at a marginally slower rate than was evident in Q4.

Euro area mortgage related data likely to show improvement

The results in the Q1 European Central Bank survey are likely to confirm respondent expectations in Q4; a continued improvement in mortgage lending standards and mortgage demand. This more upbeat tone is also to some degree likely to be reflected in the hard data on mortgage lending, which could show annual growth pushing into the 3% range.

Tentative signs of recovery in Hungarian economy but real estate lagging

Despite the somewhat more positive economic picture, significant challenges facing the real estate sector continue to be evident in the news flow. Most recently, construction data for February was released showing the volume of output still trending down; it currently stands more than 35% away from its peak reached back in the middle of 2005.

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Media enquiry, please contact:

RICS Asia Public Relations Representative

Ms Belinda Chan / Ms Ava Lau

Tel: +852-2372-0090

Fax: +852-2372-0490

Email: belinda@creativegp.com / ava@creativegp.com

Source: RICS (Royal Institution of Chartered Surveyors)
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