Expatriate Healthcare News: Expats in top Asian cities can expect property hike

10/01/13 16:15

The most popular cities in Asia for expatriates are likely to see prices on property rise by as much as 20 per cent in 2013.

That is the opinion of Knight Frank, which has tipped the likes of Bangkok and Jakarta to be among those to see significant increases.

Both destinations have welcomed expats in recent years with national governments encouraging foreign investment.

In comparison, a number of traditional expat favourites such as Hong Kong and Singapore have actively discouraged foreigners from buying up properties.

This means that rises in the locations will be kept to a minimum, helped in part by the 15 per cent stamp duty for foreign buyers which the Hong Kong government introduced in October.

Nicholas Holt, Asia Pacific research director for Knight Frank, said: "The possibility of further government intervention to reduce house price inflation in these times of low interest rates is likely to remain, posing a risk to several residential markets over the next 12 months."

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