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High End Residential Prices Cooling in China but Growing in Jakarta

Jones Lang LaSalle releases Q4 2011 Asia Pacific Residential Index

SINGAPORE, 01 February 2012 – Jones Lang LaSalle’s latest Asia Pacific Residential Index, which tracks eight luxury residential markets in the region, found that average capital values rose marginally by 0.2 percent in quarter four 2011, compared to the previous quarter.  Beijing, Bangkok, Jakarta and Mumbai saw an increase in capital values during the quarter, prices remained stable in Singapore and Kuala Lumpur and declined in Hong Kong and Shanghai.
Looking ahead, Jane Murray, Head of Asia Pacific Research at Jones Lang LaSalle said: “We expect a multi-speed luxury residential market in the Asia Pacific region in 2012.  We think prices in China will soften further, though developers are likely to introduce only moderate price discounts due to limited supply in prime locations.  Prices in Hong Kong and Singapore are expected to decline over the year due to projected rental correction, tighter credit and government measures; that said generally low holding costs will limit the extent of price correction. Whilst prices in Kuala Lumpur and Bangkok are expected to stay flat, we anticipate Jakarta prices to be boosted by Indonesia’s strong economy.”

Key highlights of Q4 2011:
• Hong Kong - prices edged down by 3.3 percent quarter-on-quarter in 4Q 2011, due to tighter credit and weakening investor sentiment.

• Singapore - average prices in the city state’s luxury prime market remained stable for the sixth consecutive quarter despite slight rental correction.

• China - with tightening policies remaining in place and falling sales volumes in the China Tier I markets, capital values for luxury apartments in Shanghai fell by 0.5% q-o-q, while average prices in Beijing were largely flat.

• Jakarta – high end residential prices saw growth of over 14 percent over the full year 2011 boosted by the country’s strong economic growth
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.7 billion of assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,000 employees operating in 78 offices in 14 countries across the region. The firm was named the Best Property Consultancy in Asia Pacific at 'The Asia Pacific Property Awards 2011 in association with Bloomberg Television'. For further information, please visit our website,

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