Offers Insights on Remuneration Trends in Light of Current Financial Turmoil
HONG KONG, Oct. 4 /Xinhua-PRNewswire/ -- In collaboration with Macdonald & Company, RICS announces the official launch of the annual Salary and Benefits Survey for property professionals in the Asia Pacific region. This influential survey has been conducted for nine consecutive years in UK and is extended to the Asia Pacific region for its third year. This comprehensive survey is aimed to provide an overview on the salaries, benefits and employment growth trends across the region in the property industry sector.
Questionnaires were sent to participants of the survey on 12 September 2008, data collected will be analyzed by an independent research company, who, through exhaustive comparison and analysis procedures will summarize current data and also predict future trends. Deadline of the survey submission is 10 October, 2008. Results of the survey will be announced to the public on 20 November 2008.
Survey results of 2007 showed that average salaries in Macau's property industry grew by 16.6% & Malaysia's grew by 12.2% while those in PRC, Hong Kong, and Singapore, only grew by 9.5%, 8.7%, 8.2% respectively. Based on this growth rate, average salaries in Macau and Malaysia may surpass those in Hong Kong and PRC by 2008.
In view of the recent financial turmoil, this regional salary trend report will surely provide insights on future industry performance and employment trends.
Mr David Tse, Chairman of RICS (HK), says "We are glad that we have received a massive support from the industry players, with more than 50% increase in feedback collected so far over last year, providing a more convincing & fruitful insights into market conditions, salary trends and expectations across the property sector in the Asia Pacific region. This survey includes feedback from our members and other property professionals practicing in RRC, Hong Kong, Brunei, Indonesia, Japan, Korea, Malaysia, Singapore, Sri Lanka, Thailand, Australia and other Asia Pacific countries. In the years to come, we target to further expand our sample base to draw a more representative picture of the salary and career trend for the profession in the region."
Mr William Glover, International Director, Macdonald and Company, says, "At the conclusion to last year's Asia Pacific survey 6% of respondents predicted that their market would decrease in economic activity. This was a similar result to that which had been projected in Europe 6 months previously and demonstrates the lag in impact of this current economic volatility. At a time when uncertainty in global markets sees no sign of abating, these results will provide an accurate, immediate snap shot of the real estate industry, enabling us to compare Asia Pacific to other parts of the world, with previous years and to provide an informed indication of what awaits the industry as it enters 2009."
Media enquiry, please contact:
Ms Belinda Chan or Ms Katherine Chow
Tel: +852-2372-0090
Fax: +852-2372-0490
Mobile: +852-9379-3045 or 9256 3223
Email: belinda@creativegp.com or kat@creativegp.com
