Luxury residential prices in greater china and singapore have reached peak, analysts claim

Average capital values fell 0.2% in quarter three of across monitored luxury residential markets in Asia, compared with the positive 1.6% growth recorded in the previous quarter, the latest data shows.

The Residential Index from Jones Lang Lasalle indicates that price growth has slowed steadily from the 7.4% quarter on quarter increase recorded in the third quarter of 2009, but this was the first time that average prices have declined since the first quarter of 2009.

Sales activity cooled further in the third quarter of 2011, with fewer launches and sales recorded in most markets as a result of economic uncertainties and ongoing tightening measures by some governments.

Of the eight featured luxury residential markets, only Jakarta and Mumbai saw an increase in capital values during the quarter, while prices remained stable Singapore, Bangkok and Kuala Lumpur and declined across the three Tier I cities in Greater China, namely Hong Kong, Beijing and Shanghai.

Source: PropertyWire.com