Singapore is the best real estate investment destination among Asian cities, while Osaka and Manila are seen as the least ideal, according to a survey published by PricewaterhouseCoopers and the Urban Land Institute. Singapore topped the rankings on its strong economic growth and brisk activity in the financial and hi-tech industries. Shanghai, Mumbai and Hong Kong were next best, according to the annual study of more than 280 property professionals.
Investors are bullish about outlook for Asia
Property investors are bullish about the outlook for Asia and Latin America, preferring their economic growth prospects to those of Europe. Asia was the top pick with 43 per cent of delegates at the annual Thomson Reuters Global Property Outlook conference, while 18 per cent of respondents chose Latin America.
Most white-collar workers on mainland feel powerless
More than 57 per cent of white-collar workers feel "powerless", according to a survey of 6,235 people by the Beijing-based People's Tribune magazine, reports China Daily. Many responses resonated with the words of 26-year-old Zhu Shenghua, who quit his job in Beijing and returned to Zhejiang province. "I buried my nose in books to get into a top university and then put my nose to the grindstone to ensure a bright future," Zhu says. "But it turns out I have no chance to live respectably in Beijing, since I can hardly afford the down payment on an apartment, even if I were to save my entire salary for 100 months."