Home-buying sentiment remains upbeat across Asia Pacific

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Not only has Covid reshaped the way we work and shop, but it has also prompted more people to think about moving house, preferably by buying a new home in a city centre location where they can enjoy a better quality of life and less time commuting.  

This observation is based on a new CBRE survey of more than 20,000 people worldwide – from Gen Z to Baby Boomers – that aimed to understand how they will live, work and shop in the future. Included in the survey were 9,000 respondents from across Asia Pacific. 

Despite rate hike pressure and economic uncertainty in some markets, home-buying sentiment is surprisingly strong across the region, with about 32% of those surveyed citing a desire to move into a better home closer to city centres. Of those planning to move, two-thirds said they want to move in two years and prefer buying to renting.  

Asian households are generally less indebted and have stronger financial standing than their Western counterparts. They generally perceive real estate to be a long-term investment, says Henry Chin, Global Head of Investor Thought Leadership & Head of Research for Asia Pacific at CBRE. 

“While real estate markets in some Asian markets are now enduring a correction in response to recent rate hikes, buyers are opting to wait it out and take advantage of buying opportunities when they emerge.”