In February, transaction volumes in the primary market rose to 900 units, while the secondary market saw a decline to 2,300 units, resulting in an overall m-o-m decrease of 11.1%. Mass residential capital values declined by U.(% m-o-m in February. following a 0.4% rebound in January.The government raised the threshold for properties subject to a nominal stamp duty of HKD 100 from HKD 3 million to HKD 4 million in February. I nis measure eases the burden for buyers or lower-value properties by reducing transaction costs, potentially stimulating demand in the entry-level residential market.The primary housing market gained momentum as unit prices continued their downward trajectory. EIGHT SOUTHPARK in Ma Tau Kok sold all 101 units launched on the first day or the project launchAmong major luxury sales transactions. a house at Bisney Crest in Pokfulam was sold for HKD 203. 8 million or HKD 35.339 per sq ft (SA). This transaction reflects a 1.9% unit price increase compared to another house in the same project that was sold in July 2024.Source: The Land Registry, JLLWant deeper insights into global property trends? Download our comprehensive market value report to explore opportunities beyond Hong KongDownload
This article is contributed by Mannu Bhazin, Country Head of IQI IndiaIndia’s ultra-luxury real estate segment is undergoing a golden age—an era marked by discerning buyers, record-breaking sales, and a shift in the very definition of “home.” With wealth creation on the rise, especially among high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs), there's a distinct appetite for elevated living that blends legacy, lifestyle, and long-term capital appreciation. From sea-facing penthouses in Mumbai’s Bandra and Worli to stately golf-course villas in Gurugram and the imperial grandeur of Lutyens’ Delhi, the demand for homes priced upwards of ₹20 crore has never been stronger. These aren’t just properties—they’re statements of identity, generational investments, and, for many, dream homes finally within reach. The surge is backed by multiple tailwinds. Rising disposable incomes, global exposure to refined living standards, and an expanding base of first-generation wealth creators have made ultra-luxury homes both a personal aspiration and a financial strategy. These homes offer a rare trifecta: unmatched lifestyle perks, the ability to preserve and grow capital, and the status of owning something truly scarce in an increasingly crowded world. Prime city zones with low density, lush green buffers, and seamless access to business districts are now gold mines of generational wealth, often appreciating faster than any other asset class in the country and are driven by scarcity. The numbers speak volumes. Premium assets in India’s top metros have historically yielded annualised returns in the range of 9–14%, with some ultra-exclusive properties—those with a story, a view, or a rare provenance—tapping into 18–20% territory. This scarcity premium, driven by limited supply and ever-increasing aspirational demand, is what makes India’s luxury real estate an outlier in terms of value retention and appreciation. Interestingly, despite relatively modest rental yields—usually 2–3% of the property value—even the country's most affluent prefer holding these properties primarily for personal use. For them, the value lies not in recurring income but in lifestyle elevation and wealth preservation. However, when managed professionally—particularly in scenic, leisure-driven destinations—these “trophy homes” can fetch significantly higher yields, sometimes up to 5–7% annually. Top-tier city properties have historically delivered annualised returns between 9–14%, with truly rare assets commanding premiums and pushing the 18–20% mark. The luxury housing market (₹4 crore and above) across India’s top seven cities recorded a 28% year-on-year growth in sales during the Jan–Mar quarter alone. The momentum is powered by evolving urban infrastructure, a renewed focus on wellness and quality of life, and a subtle but notable narrowing in the gap between monthly rents and EMIs. With the Reserve Bank of India’s recent repo rate cuts, the timing couldn’t be better for aspirational buyers to turn homeowners. Ultimately, luxury real estate remains the preferred haven for India’s elite—offering stability in turbulent times, diversification beyond volatile equities, and tangible value in a rapidly digitising, often intangible world. Whether as a legacy asset, a weekend escape, or a curated investment, the ultra-luxury home is now less of a rarity—and more of a reality.Want deeper insights into global property trends? Download our comprehensive market value report to explore opportunities beyond IndiaDownload
This article is contributed by Emmanuel Andrew Venturina, Country Head of IQI PhilippinesDevelopers Collectively Addressing the Condo Oversupply In the last quarter of 2024, Metro Manila face a significant oversupply of condominiums due to a frenzy of developments that have been impacted by pandemic and low take up. As demand fluctuates, real estate developers are strategically implementing flexible payment terms and rent-to-own schemes to better align with consumer needs and stimulate sales. These initiatives not only provide potential buyers with more accessible paths to homeownership but also enable developers to mitigate the impacts of oversupply. Flexible Payment Terms Flexible payment terms are designed to ease the financial burden on potential buyers by offering various options for making payments. Developers are increasingly allowing buyers to choose from multiple financing arrangements, which may include longer installment periods, lower down payments, and graduated payment structures. By doing so, they cater to a diverse range of financial situations, making it easier for young professionals, first-time buyers, and even investors to consider purchasing a unit. For example, some developers may offer a down payment as low as 5% with the remaining balance spread out over several years. This approach not only helps individuals save up but also allows them to manage cash flow better while still enjoying the benefits of ownership in a rising real estate market. Additionally, these flexible terms can provide security and peace of mind, knowing that their investment is not tied to prohibitively high initial costs. Rent-to-Own Schemes The rent-to-own scheme is another innovation gaining traction in response to the oversupply issue. This model lets potential buyers rent a condominium unit with the option to purchase it after a specified period. A portion of the rent paid during the rental term is usually credited toward the eventual purchase price. This scheme serves two functions: it addresses the immediate need for housing and caters to those who may not yet be financially ready to buy. Rent-to-own agreements provide flexibility and lower risk for buyers who may be uncertain about committing fully to a purchase. They can live in the property, observe the neighborhood, and decide if it fits their lifestyle before making a long-term investment. For developers, this approach can lead to a more stable occupancy rate, as units are not left vacant while waiting for buyers. This can also contribute to healthier cash flow, enabling developers to reinvest and sustain their projects. In the past, very few developers are embracing the rent-to-own scheme, now, almost all of the developers are introducing competitive rent-to-own programs; some with 10-year lease to own program with minimal initial downpatment to move-in; some with as low as 5% downpayment to enable clients to use the property. Market Impact and Future Outlook By adopting these strategies, developers are not only addressing the oversupply of condominiums in Metro Manila but also enhancing consumer confidence in the real estate market. As more individuals are enticed by flexible payment options and the potential of rent-to-own arrangements, the market can recover more swiftly from the effects of oversupply. Looking ahead, it is likely that market dynamics will continue to evolve, with developers regularly assessing consumer needs and innovations in financing. By prioritizing flexible payment solutions and adaptable ownership models, developers can help sustain a healthier real estate environment, benefitting both buyers and developers alike in the long run. As Metro Manila navigates its current real estate landscape, these payment strategies will play a crucial role in balancing supply and demand, ultimately fostering growth and stability in the condominium market. Want deeper insights into global property trends? Download our comprehensive market value report to explore opportunities beyond PhilippinesDownload
This article is contributed by Junaid Hamid, Country Head of IQI PakistanKarachi’s Market Poised for Growth As we move further into 2025, Karachi's real estate sector is showing strong signs of a rebound, driven by improving economic indicators, rising investment interest, and evolving urbanization trends. However, despite the optimism, there are still challenges that need to be addressed for the sector to reach its full potential. Market Challenges Economic Stability and Policy Uncertainty While macroeconomic indicators show brief stability, Pakistan’s economy remains vulnerable to fluctuations in foreign reserves, inflation rates, and policy changes. The real estate sector is highly dependent on investor confidence, and any sudden shifts in government policies or taxation can create uncertainty, deterring both local and overseas investors. Access to Housing Finance Although lower policy rates have made housing finance schemes more attractive, the lack of specialized low-mark-up financing options limits accessibility for middle-income buyers. Many potential homeowners still find it difficult to secure loans due to stringent lending requirements. Infrastructure Development Delays Despite significant efforts to modernize Karachi’s infrastructure, projects such as road expansions, water supply improvements, and urban planning initiatives often face delays. These slowdowns hinder real estate growth in emerging areas and can impact the appreciation of property values. _*Predictions for Karachi’s Real Estate Market_ Rising Demand for Gated Communities Security and lifestyle preferences continue to push demand for gated communities. Investors can expect steady appreciation in areas like DHA, Bahria Town, and Malir Cantt as more families and expatriates opt for secure, well-planned residential environments. Urban Expansion and Vertical Growth With Karachi’s population surging, developers are focusing on high-rise apartment projects and commercial hubs. The transformation of suburban areas into thriving residential and business centers is expected to continue, presenting lucrative investment opportunities in locations like Scheme 33, Korangi, and North Karachi. Integration of PropTech and Smart Investments The rise of property technology (PropTech) is reshaping how properties are bought, sold, and managed. Investors will increasingly rely on AI-powered analytics, virtual tours, and blockchain-enabled transactions to make informed decisions and streamline property registration processes. Furthermore, platforms like Zameen.com lead the way in making the real estate market accessible for everyone. High Investment Returns Expected in 2025 With lowering interest rates and a maturing market, Karachi’s real estate sector is poised for significant growth. Areas that were previously overlooked are now gaining traction, and early investors stand to benefit from rising demand and increasing property values. Unlocking Potential: Key Investment Areas Affordable Housing and Flexible Payment Plans Developers are introducing innovative payment structures, allowing buyers to secure properties with minimal down payments and installment plans that resemble rental payments. This accessibility is making real estate investment easier for first-time buyers and young professionals. Government Incentives and Overseas Investment The Pakistani government has launched various initiatives to attract foreign investment, including tax exemptions for construction-related industries and incentives for overseas Pakistanis. These policies are expected to drive further growth in the real estate sector. Strategic Mega-Projects Major infrastructure projects, such as Malir Expressway, Karachi Circular Railway (KCR) and the Karachi Coastal Development Project, are set to enhance connectivity and property values. Investors looking for long-term gains should focus on locations surrounding these developments. Conclusion: A Thriving Future for Karachi’s Real Estate As we approach mid-2025, Karachi remains one of the most promising real estate markets in Pakistan. Despite economic challenges, the city’s expanding infrastructure, increasing urbanization, and evolving investment landscape present numerous opportunities for both local and international investors. For those seeking to capitalize on Karachi’s booming property sector, now is the time to explore investment options, partner with trusted developers, and leverage technology to make informed decisions. The future of Karachi’s real estate market is bright—secure your place in it today! Want deeper insights into global property trends? Download our comprehensive market value report to explore opportunities beyond PakistanDownload
This article contributed by Dustin Trung Nguyen, Head IQI VietnamResidential: HCMC apartment price climbs to new peak of nearly $4,700 per square meter. Apartment prices in Ho Chi Minh City rose to an unprecedented VND120 million (US$4,691) per square meter on average in the first quarter, marking a 47% increase year-on-year. But the record price was achieved because a majority of new launches in the last three months were in the high-end and luxury segments priced at above VND100 million (US$3,870) per square meter The eastern and central districts of HCMC, where the high-end projects are largely concentrated, continue to lead the charge in new supply, accounting for some 53% of over 2,390 units launched in the first quarter. The south and west, which still offer some mid-range projects (priced at around VND60 million per square meter), represent 19% and 15% of the supply. Knight Frank’s data shows that the average apartment price in HCMC in the first quarter reached nearly VND92 million per square meter, a 12% rise from the same period last year, with transaction volumes dropping by 47% compared to late 2024. Cushman & Wakefield CEO Trang expected HCMC to add around 9,500 new apartments in the second quarter, predominantly in the high-end segment with an average selling price of VND120 million per square meter. If the prices continue to rise, demand is expected to gradually shift toward the city’s suburban areas and neighboring cities, where prices remain affordable. Hanoi apartment price growth in the first quarter decelerated to the slowest pace in nearly two years as sellers lower their rates to attract buyers. Prices on the primary market – where developers sell directly to buyers – averaged VND75 million (US$2,915) per square meter in the first three months, a 3% growth from the last quarter of 2024, this was the slowest quarterly growth since the second quarter of 2023. The secondary market – where buyers sell to other buyers – also saw slower price growth at 3% to VND50 million. In most projects, prices were stagnant, except for those in prime areas where leasing potential was high. Data from research firm Cushman & Wakefield echoed these findings, reporting declining demand for Hanoi’s apartment sector. The market recorded sales of over 4,300 units, a 53% drop from the previous three-month period. Absorption rates weakened as buyer confidence waned, with many prospective buyers adopting a cautious stance amid ongoing economic uncertainties. Most of the new units, 77%, were in the high-end and luxury segments, and few were affordable. Property listing platform Batdongsan has seen apartment prices in the capital going flat since the end of last year. Commercial: Many shopping malls in Hanoi, most of them once thriving hubs of entertainment and retail, are now largely vacant and attract few customers. Meanwile, HCMC office rents at 5-year high driven by rising demand Premium office rents in HCMC reached a five-year high of US$67 per square meter on average last year after rising by 2.2% from 2023. Across all grades (affordable, mid-range and premium), the average rent rose by 1.6% to $36, according to property consultancy JLL Vietnam. Data from market researcher Knight Frank confirms the rising trend, showing prime office rents grew by 3% last year to $61. Occupancy rates in new office buildings were 88-90%, it said. Another property consultancy, Savills, said the HCMC office market has seen a steady increase in rentals over the past decade. Last year, across all grades, they increased by 2-3% but demand remained strong as indicated by occupancy rates of above 89%. Trang Le, CEO of JLL Vietnam, said recovery in demand from both domestic and international businesses has been a key driver, allowing premium office landlords to confidently hike prices. Last year the vacancy rate dropped to just 6% at premium buildings and 12% across the market, she added. Japanese companies have been active in securing office space, accounting for 19% of the more than 75 companies that signed new lease agreements in HCMC, JLL data shows. Vietnamese businesses were in second place, with South Korean and American firms close behind. The information technology and communications sector led the demand for office space (accounting for 30% of the total absorbed area), followed by the finance and banking, retail and pharmaceutical industries. Want deeper insights into global property trends? Download our comprehensive market value report to explore opportunities beyond VietnamDownload
This article is contributed by Yousaf Iqbal, Head of IQI CanadaIn March 2025, the Canadian real estate market reflected a mixed picture, shaped by ongoing economic uncertainties and regional variations. While national home sales experienced a slowdown, stable home prices and early signs of recovery in key urban centers signal cautious optimism for the months ahead. Interest rate adjustments and improved affordability continue to influence buyer sentiment. Greater Toronto Area (GTA) The GTA market saw a modest cooling in March, with home sales declining compared to last year. The average selling price dipped by 2.5% year-over-year to $1,093,254, while the MLS® HPI benchmark fell by 3.8%. Despite the slowdown, market watchers point to a potential rebound later in the spring, as more listings come online and borrowing conditions improve. Vancouver Vancouver’s housing market remained relatively balanced. While residential sales slowed slightly, increased listing activity and steady pricing indicate seller confidence. Inventory continued to build, giving buyers more negotiating room. The market is expected to maintain stability, especially as mortgage rates become more favorable. Montreal Montreal experienced a healthy uptick in activity, with home transactions surpassing seasonal expectations. The city's relative affordability compared to other major metros, paired with supportive lending conditions, has kept buyer interest strong. Inventory levels are rising steadily, helping to meet demand. Toronto Homeownership in the Greater Toronto Area became more affordable in March 2025, with lower borrowing costs and declining home prices making monthly mortgage payments more manageable. According to the Toronto Regional Real Estate Board (TRREB), continued rate cuts and increased housing supply are expected to benefit buyers by boosting affordability and negotiation power. However, economic uncertainty and the upcoming federal election are causing some households to delay purchasing decisions. TRREB officials noted that consumer confidence, particularly around employment stability, will be key to driving future home buying activity. Vancouver Metro Vancouver recorded its lowest March home sales since 2019, with 2,091 residential transactions—a 13.4% decline from March 2024 and 36.8% below the 10-year average. Meanwhile, active listings surged, reaching 14,546, up 37.9% year-over-year and nearly 45% above the seasonal average. Despite political and economic uncertainties, market conditions have become increasingly favorable for buyers. Mortgage rates remain low, prices have eased from past highs, and inventory is at its highest in almost a decade. However, buyer activity remains muted, with a sales-to-active listings ratio of 14.9%, indicating a balanced market overall. Benchmark prices showed mixed trends: Detached homes: $2,034,400 (↑0.8% YoY) Apartments: $767,300 (↓0.9% YoY) Townhomes: $1,113,100 (↓0.8% YoY) New listings jumped 29% from last year, reflecting growing seller confidence. While attached homes are nearing sellers’ market territory, the overall market is experiencing slower momentum similar to early 2023, with potential for stronger activity in the coming months. Quebec Source: https://members.gvrealtors.ca/news/GVR-Stats-Package-Mar-2025.pdf Source: https://trreb.ca/wp-content/files/market-stats/market-watch/mw2503.pdf Source: https://com.apciq.ca/fsmi-stats/mensuelles/2025/stats-202503-en.pdf Want deeper insights into global property trends? Download our comprehensive market value report to explore opportunities beyond Canada Download
This article is contributed by Lily Chong, Country Head of IQI AustraliaAustralia’s property market is back on the rise, with national home values increasing by 0.4% in March, marking the second month of growth after a brief three-month decline. According to CoreLogic’s Home Value Index, this broad-based recovery saw positive results in every capital city except Hobart, and gains across all regional areas. Darwin led the way with a 1.0% rise, while Sydney and Melbourne—Australia’s largest markets—have now enjoyed two months of upward movement. Sydney values are just 1.4% below their record high, and Melbourne, despite a longer downturn, has recovered by 0.9% over the past two months. What’s behind the bounce? Improved sentiment following the February interest rate cut is likely the main driver, improving both borrowing capacity and mortgage serviceability, says CoreLogic Research Director, Tim Lawless. However, he notes that with the rate-cutting cycle expected to be drawn out, affordability constraints could test the momentum. Interestingly, the growth in values is becoming more balanced across market segments. In Sydney, for example, upper-tier properties rose 0.6% in the past three months compared to 0.3% in the lower quartile, reversing a recent trend of stronger gains among more affordable properties. Perth has recorded a remarkable 75.9% surge in property values since the start of the pandemic, adding $348,519 to the median dwelling price, now at $807,715, according to CoreLogic. Houses rose by $367,000 and units by $225,000 over five years, making Perth the top-performing capital city in Australia, ahead of Adelaide and Brisbane. Regional WA also saw strong growth, with Geraldton up 94.4% and Bunbury rising 81.1%. The rapid rise is attributed to Perth’s previously low price point, following a market decline before 2020. Despite these gains, Perth remains more affordable than Sydney, Brisbane, Canberra, and Adelaide. Analysts predict values will grow by another 8% in 2025, though housing affordability remains a concern, especially for younger buyers, as highlighted by recent research from the Bankwest Curtin Economics Centre. For investors and homeowners alike, Perth’s property market presents exciting opportunities. Whether you’re considering selling, buying, or investing, now is the time to explore your options. Contact our team at sales@iqiwa.com.au to discuss your property goals today. Want deeper insights into global property trends? Download our comprehensive market value report to explore opportunities beyond AustraliaDownload
Relaxing the CIES to Safeguard the Northern MetropolisHong Kong’s residential property market has endured a three-year downturn, marked by a structural oversupply of housing units. While lower housing costs and increased availability align with social objectives, this environment has created a critical challenge—a contraction in the future development pipeline and a sharp erosion of governmentland revenue.The number of units on disposed sites (ready for imminent construction) plummeted by 33% year-on-year to about 12,000 units in 2024.Government land premium income collapsed to about HKD 4 billion in the first three quarters of FY2024/25—a fraction of both last year’s HKD 13.9 billion actual income and this year’s HKD 33 billion target.If left unaddressed, relying on market self-correction risks perpetuating a downward spiral of asset devaluation, stalling urban renewal projects, and jeopardizing strategic initiatives such as the Northern Metropolis—a cornerstone of Hong Kong’s long-term economic and social development.The Northern Metropolis, envisioned to house 2.5 million residents and generate 650,000 jobs, demandsunwavering commitment from developers. However, their participation hinges on confidence in future demand and returns. With demand-side headwinds intensifying—sticky U.S. interest rates dampening price recovery prospects and population growth lagging—developers are increasingly reluctant to commit capital to large-scale projectsThis hesitancy creates a vicious cycle:Prolonged oversupply suppresses developer margins, reducing their capacity to invest in future projects.Falling land premiums strain public finances, limiting critical infrastructure investments for the NorthernMetropolisActivating Demand-Side Mechanisms to Resolve Structural OversupplyThe solution to the current market stalemate lies in activating demand-side mechanisms. We propose the following targeted refinements to enhance the Capital Investment Entrant Scheme (CIES):Full recognition of residential property investments – Allow 100% of residential property investments to counttoward the HKD 30 million eligibility threshold under the CIES.Remove price restrictions on residential property investment – Eliminate the HKD 50 million valuationrequirement for residential properties under the CIES.DOwnload now!