Newsletter

Global Property Growth Becomes Increasingly UnevenGlobal luxury property markets are entering a more selective phase, with price growth varying significantly across major cities.According to Knight Frank's Prime Global Cities Index Q2 2026, average annual price growth across 46 cities reached just 2.6%, while 15 cities recorded price declines.Tokyo led the index with 50.7% annual growth, supported by limited supply and currency conditions. Central Tokyo condominium prices also surged 34.7%, reflecting strong demand for scarce premium properties.Meanwhile, Dubai ranked third with 10.9% growth, although Q3 sales values declined 47% year-on-year, indicating cooling market activity.Manila ranked second with 14.6% prime property growth, but Metro Manila's residential vacancy rate was projected to reach 25.6%, highlighting the contrast between luxury and broader housing markets.Investment Opportunities Depend on Local FundamentalsIn Malaysia, residential prices increased just 0.9% in Q2 2026, while Budget 2027 introduced stamp duty exemptions for eligible first-time buyers purchasing homes up to RM500,000.Bali continues to attract lifestyle property investors, although tighter land-use regulations and ownership restrictions make proper legal structures increasingly important.Meanwhile, Portugal's house prices rose 16.5% year-on-year in Q2 2026, despite a 6.4% decline in transactions, reflecting strong domestic demand and limited housing supply.In prime central London, prices recorded their first quarterly increase in four years, rising 0.3% in the three months to September, although annual values remained below previous peaks.These contrasting trends reinforce the importance of evaluating individual markets rather than relying on global averages.OutlookWith global prime property prices growing at an average of just 2.6%, investors can no longer depend solely on market-wide appreciation.Moving forward, property quality, entry pricing, rental demand and local market conditions will play a greater role in determining investment returns.Selective, fundamentals-driven investments are likely to offer stronger long-term opportunities than broad market exposure.The contents of this article were contributed by Taco Heidinga, Global Real Estate Strategist, Juwai IQI; Country Head, IQI Bali & Lombok; Founder, Homes in Asia.Download to see insights from other country marketsDownload

Property Regulations Enter a New Review PhaseVietnam's property market is attracting attention as proposed regulatory changes and evolving buyer conditions create new considerations for domestic and international investors.A proposed update to the country's property ownership framework is currently under review, potentially influencing future purchase decisions.The draft proposals address several important areas, including property ownership scope, buyer eligibility, confirmation procedures and ownership terms.However, these changes have not yet been enacted, meaning investors should continue referring to existing regulations until official updates are confirmed.Understanding legal requirements remains particularly important for foreign purchasers, as eligibility and ownership structures may differ according to property type and applicable restrictions.Cash Buyers Gain More Negotiating FlexibilityMarket conditions are also creating potential opportunities for purchasers with stronger financial positions.According to the November 2026 newsletter, cash buyers in selected Vietnamese property markets may secure negotiated discounts of approximately 8% to 12%.This compares with approximately 2% to 3% for buyers relying on financing, reflecting the advantages of greater transaction certainty and financial flexibility.Meanwhile, Vietnam's economic fundamentals remain supportive.The country recorded approximately 9.95% GDP growth in Q3 2026, alongside USD50.36 billion in registered foreign direct investment through 30 September 2026.FDI disbursement reached approximately USD21.07 billion during the first nine months of 2026, reflecting continued foreign investment activity.These indicators provide broader economic context, although individual property performance remains dependent on location, demand and legal compliance.OutlookVietnam's property market presents opportunities for financially prepared buyers, particularly where negotiated pricing improves purchase value. However, legal clarity, ownership eligibility, financing conditions and asset quality remain essential. Investors should closely monitor official regulatory developments before making decisions based on proposed ownership changes.The contents of this article were contributed by Dustin Trung Nguyen, Head of IQI Vietnam.Download to see insights from other country marketsDownload

Bangkok's Condominium Market Shows Stronger ActivityThailand's residential property market is experiencing changing supply conditions, with Bangkok's condominium sector showing notable differences between locations.In Q2 2026, Bangkok and five surrounding provinces recorded approximately 85,249 condominium units in housing supply.Low-rise housing represented a larger segment, with approximately 128,834 units.Meanwhile, regional condominium sales activity displayed strong momentum in selected areas.Sukhumvit condominium sales increased approximately 338.6%, highlighting considerable growth in transaction activity.The Bang Ya–Bang Bua Thong–Bang Kruai–Sai Noi corridor also recorded approximately 59% sales growth, reflecting demand beyond Bangkok's established central locations.However, strong sales growth in individual areas does not necessarily indicate uniform market recovery.Location and Inventory Shape Investment DecisionsThailand's broader residential sector continues to demonstrate mixed market conditions.The national condominium market recorded approximately 214,083 transactions in Q2 2026, while overall condominium supply increased 19.5% year-on-year.Total transaction activity remained weaker, declining approximately 6.6% annually.This contrast between rising supply and softer overall transactions reinforces the need for careful property selection.Monthly condominium absorption rates also varied significantly between locations.Sukhumvit recorded an absorption rate of approximately 5.2% per month, compared with 3.3% in the Bang Ya–Bang Bua Thong–Bang Kruai–Sai Noi corridor.For property buyers and investors, transport access, employment centres, shopping facilities, healthcare services and overall neighbourhood convenience remain important demand drivers.OutlookThailand's residential property market offers opportunities in locations supported by genuine end-user demand. However, inventory levels, project positioning, transport connectivity and absorption rates will remain critical considerations as developers and buyers navigate changing supply conditions.The contents of this article were contributed by Somsak Chutisilp, Head of IQI Thailand.Download to see insights from other country marketsDownload

New Residential Launches Support Market MomentumSingapore's private residential property market experienced renewed activity in August 2026, supported by several major project launches.Developers launched approximately 1,893 new private homes for sale during the month, excluding executive condominiums.This represented a substantial increase in available new units compared with July, when only 153 homes were launched.Buyer activity strengthened alongside the increase in new launches.Developers sold approximately 791 private residential units in August, up from 214 units in July.The improved sales figures suggest that well-positioned new projects continue to attract interest, particularly when pricing and location align with buyer expectations.Regional Differences Shape Buyer DemandSingapore's residential market continues to demonstrate different demand patterns across its three main regions.The Rest of Central Region (RCR) accounted for approximately 47.1% of new private residential sales in August 2026, reflecting its strong contribution to market activity.The Outside Central Region (OCR) represented approximately 37.9%, while the Core Central Region (CCR)accounted for around 15.0%.Homes in the RCR priced between SGD2 million and SGD3 million attracted notable buyer interest, highlighting demand for properties offering a balance between location and affordability.Meanwhile, new residential developments in established neighbourhoods, including District 10, continue to attract attention from buyers seeking desirable locations.These trends suggest that demand is increasingly influenced by the combination of project pricing, accessibility, neighbourhood appeal and available housing supply.OutlookSingapore's private housing market is benefiting from renewed new-launch activity, although demand remains selective across different regions and price segments. Developer pricing, location quality and buyer affordability will continue to shape purchasing decisions as additional residential projects enter the market.The contents of this article were contributed by Raymond Khoo, Vice President, Orange Tee & Tie.Download to see insights from other country marketsDownload

Riyadh Remains a Key Residential MarketSaudi Arabia's residential property market continues to evolve, with Riyadh attracting particular attention as housing supply expands to support long-term urban growth.In Q2 2026, Saudi Arabia recorded 45,740 residential transactions, representing a total transaction value of approximately SAR41.9 billion.Although residential demand remains substantial, property performance varies between major cities and housing categories.Apartment prices in Riyadh increased approximately 3.3% during Q2 2026, while Jeddah recorded a decline of around 1.2%.Dammam posted stronger apartment price growth of approximately 2.8% over the same period.The figures illustrate why investors should examine city-level dynamics rather than applying a single national outlook to the entire housing market.Vision 2030 Supports Long-Term DevelopmentSaudi Arabia's housing sector continues to benefit from development initiatives associated with Vision 2030.Riyadh's residential housing stock is forecast to increase from approximately 2.81 million units in 2026 to 3.30 million units by 2030.This planned expansion is intended to accommodate population growth, improve housing availability and support the country's wider economic diversification.As additional supply enters the market, investors will need to assess the relationship between development activity and actual housing demand.The Real Estate Registry Platform and related transparency initiatives are also important developments, supporting greater accessibility to property information and transaction processes.For buyers, infrastructure connectivity, neighbourhood amenities and realistic pricing will remain essential when evaluating residential opportunities.OutlookSaudi Arabia's residential property market continues to offer opportunities linked to urbanisation and Vision 2030. However, rising housing supply, location-specific demand, infrastructure accessibility and delivery timelines will play an increasingly important role in shaping long-term investment performance.The contents of this article were contributed by Shareef Ghaleb Kattan, Head of IQI Saudi Arabia.Download to see insights from other country marketsDownload

Asia's Economic Resilience Attracts Global InvestmentAsia continues to strengthen its position as a global economic powerhouse, supported by resilient growth, expanding digital infrastructure and investment-friendly policies.The IMF and World Bank Annual Meetings, held in Bangkok in October 2026, brought together approximately 15,000 delegates from 191 countries, highlighting the region's growing economic importance.According to the IMF, Asia accounts for approximately 60% of recent global economic growth, despite ongoing challenges from geopolitical tensions, elevated energy prices and rising public debt.Meanwhile, gold remains around US$4,200 per ounce, while oil prices stay above US$100 per barrel, reflecting continued market uncertainty.Despite these pressures, investor confidence across Asia remains relatively resilient.Asia-Pacific Property Investment Gains MomentumAsia's economic strength is also reflected in its real estate sector.CBRE upgraded its Asia-Pacific growth forecast from 3.9% to 4.3%, citing stronger-than-expected regional demand.Meanwhile, JLL reported record Asia-Pacific real estate investment volumes of US$47 billion in Q1 2026, representing a 31% year-on-year increase.Rental property remains particularly attractive to income-focused investors.According to Global Property Guide, estimated rental yields across selected markets include Bali at 8.5%, Turkey at 7.3%, Thailand at 6.3%, Malaysia at 5.2% and Ho Chi Minh City at 5.0%.Compared with typical savings account returns of 2% to 3%, these figures highlight the income potential of well-located rental properties, although investment costs and market risks must also be considered.OutlookAsia's economic resilience and growing investment activity continue to support long-term property opportunities.As global uncertainty persists, rental income, location quality, market fundamentals and portfolio diversification will remain important considerations.For investors, focusing on sustainable returns rather than short-term speculation may offer a more balanced approach to navigating the region's evolving property markets.The contents of this article were contributed by Hamid R. Azarmi, Head of Business Development.Download to see insights from other country marketsDownload

Residential Market Shows Recovery SignsThe Philippines' property market is showing signs of recovery as stronger residential presales activity and changing financing conditions support renewed buyer interest.In Q1 2026, Metro Manila residential presales take-up increased by approximately 765% compared with the previous quarter.This significant increase suggests improving demand following a period of weaker market activity.At the same time, the estimated time required to clear residential inventory declined from 13.4 years to 6.8 years, indicating an improvement in market absorption.Residential prices have also shown signs of stabilisation. The quarterly residential price decline narrowed from 3.83% in Q3 2025 to 1.3% in Q4 2025.Although these developments are encouraging, the pace of recovery remains dependent on market conditions and the ability of developers to match supply with buyer demand.Economic Activity and Housing Demand Support GrowthThe Philippines' broader economic development continues to create opportunities across residential and industrial property segments.Approximately 289,000 global capability centre professionals are projected to enter the Philippine workforce in 2026, supporting demand for employment-linked accommodation.Meanwhile, industrial supply in the country is expected to expand by approximately 930 hectares of land and 240 hectares of built-up space through 2028.Approved foreign manufacturing pledges reached approximately PHP81.4 billion, reflecting continued investment interest in the industrial sector.In Metro Manila, the residential vacancy rate improved from 25.6% to 23.9%, suggesting gradual progress in absorbing existing supply.However, vacancy remains an important consideration when evaluating potential rental investments.OutlookThe Philippine property market is showing early signs of recovery, supported by stronger presales and structural employment demand. Inventory absorption, financing conditions, developer payment terms and rental occupancywill remain important factors in determining whether the recovery can be sustained.The contents of this article were contributed by Dara Ko-Saavedra, Head of IQI Philippines.Download to see insights from other country marketsDownload

Lahore's Residential Market Shows Mixed PerformancePakistan's residential property market continues to demonstrate significant differences between locations, with Lahore providing a clear example of how neighbourhood-level demand influences housing values.According to the November 2026 newsletter, Lahore's average city property prices increased approximately 10.7% year-on-year.However, performance varied across individual developments.DHA Defence Phase 6 recorded annual growth of approximately 11.8%, while Model Town posted a smaller increase of 5.2%.Meanwhile, Johar Town Phase 2 registered stronger growth of approximately 17.3%, followed by DHA Defence Phase 4 at 16.6%.Bahria Town recorded a more modest annual increase of approximately 3.7%.These differences demonstrate why buyers and investors should evaluate individual neighbourhoods rather than depending on citywide averages.Infrastructure and Investment Activity Support DemandProperty pricing also differs substantially across housing categories.Lahore's average house price was approximately US$347,700, while average prices in DHA Defence and Johar Town stood at approximately US$386,600 and US$304,000, respectively.Beyond housing prices, broader investment activity continues to influence the market.Lahore's US$200 million Smart Commercial Boulevard represents an example of ongoing commercial development.Other investment indicators highlighted in the newsletter include approximately US$3.66 billion in August remittancesand US$21.4 billion in Special Investment Facilitation Council-related investment activity.The market is also seeing emerging participation models, including fractional ownership and property investment through regulated structures.However, investors should carefully assess ownership documentation, development approvals and the credibility of proposed investment arrangements.OutlookLahore's property market offers varied opportunities across established and emerging neighbourhoods. Location-specific growth, infrastructure development, legal transparency and property quality remain essential considerations for buyers seeking sustainable long-term value.The contents of this article were contributed by Gohar Majid, Head of Lahore Pakistan.Download to see insights from other country marketsDownload