The residential property market in Asia is vulnerable to the impacts of the global financial crisis and the associated international economic downturn. Recent economic figures in Asia point to a marked slowdown, which will inevitably affect the residential property market in Asia. Following is information related to Asia's residential property market, and the services provided by Asia Property Consultants:

1.

In Singapore, the government has revised its economic growth forecast for this year to a lower range of between 4 and 5% from its earlier projection of between 4 and 6%.

According to the government's Hong Kong Trade Development Council (HKTDC), Hong Kong's economy grew by 5.8% in the first half of 2008 (6.3% in 2007). The Hong Kong government forecasts economic growth of between 4 and 5% in real terms for this year.

For Australia, The Economist Intelligence Unit (EIU) states GDP growth slowed to 0.3% quarter on quarter in the second quarter of 2008, pulling year-on-year growth down to 2.7%.

4.

EIU also shows Thailand economy to be slowing, predicting it will weaken sharply in the second half of 2008, with growth for the year averaging 4.8%. In 2009, in line with a further slowdown in the global economy, GDP growth is forecast to drop to just 3.9%.

5.

House price indices for the residential property markets in Asia are declining. According to Singapore Urban Redevelopment Authority (URA), Singapore residential property prices rose 0.17% in the second quarter of 2007 compared to 8.28% in the same quarter of 2007. The latest figures from Hong Kong University's All Residential Price Index (HKU-ARPI) showed decline for two consecutive months. In Australia, the LJ Hooker/BIS Shrapnel Residential Property Index showed a decline for June 2008.

6.

Asia Property Consultants assists clients with renting, purchasing or selling residential property in Asia. Services provided in the residential property market include:

Arranging international mortgages to support the purchase of residential property in Asia. We work with banks such as DBS, OCBC and ANZ Bank to support our clients' investment objectives.

Asia Property Consultant's tax specialists will advise on the optimum accounting and tax strategies related to buying residential property in Asia, thereby maximizing our clients' investment returns.

Sourcing and supervising a local lawyer so that the legal matters associated with the residential property market in Asia are managed professionally.

Asia Property Consultants manages our client's needs from start to finish so their new home purchase is as smooth as possible, whether that be Singapore, Hong Kong, Australia, Bali, Thailand, Philippines, and Vietnam or other Asia markets.

Sourcing and supervising reliable agents for property management activities such as a) finding tenants b) property valuations c) property maintenance and refurbishments d) problem solving e) security and f) organizing property insurance

For more information on the residential property market in Asia, call our Singapore office at (+65) 67350120 or contact us at email@healyconsultants.com