HCMC tops Asia’s office property market

Ho Chi Minh City was ranked the best market for office properties among big Asian cities, followed by Tokyo, Mumbai, Shanghai and Bangalore, a survey showed Tuesday.

The southern Vietnamese hub was also rated on top for retail and apartment residential property, the survey conducted by US research institute Urban Land Institute and PricewaterhouseCoopers stated.

The survey, based on 180 respondents ranging from global investors, property developers and brokers, was conducted between the middle of August to October.

Tokyo takes the top spot for next year's real estate investment prospects, with many foreign investors seeking opportunities in Japan's beleaguered property market.

Tokyo moved up to the first place after being rated third in the past two years, while Shanghai dropped to fifth from last year's top slot.

Source: Reuters