“Although the global picture in nominal terms is one of relative resilience, there are signs Asia-Pacific is ahead of the curve when it comes to the slowdown. Of the seven markets that saw prices decline between March and June 2022, six are in the Asia Pacific region: Hong Kong, South Korea, the Chinese Mainland, Australia, Malaysia, and New Zealand. Rate of prices slowing down and normalising offers a more sustainable backdrop for growth in most markets moving forward as large parts of the world move to a post-pandemic landscape coupled with inflation, rising taxes, and more property regulations,” shares Victoria Garrett, head of residential, Asia-Pacific.

Learn more about the movement of average house prices across 56 countries and territories worldwide during the last quarter by delving into Global House Price Index Q2 2022