ASEAN Focus Services: Property Industry
In the emerging economies of ASEAN, the real estate market is undergoing dramatic change as a growing population, and middle class in particular, drive up demand for urban real estate.
Economic growth has led to greater purchasing power, especially among the burgeoning middle class, which is the main driver for the growing real estate market in Southeast Asia.
The removal of trade barriers has also attracted more foreign investors to the region. ASEAN governments are implementing policies and investing in infrastructure to help ensure supply meets the growing demand. Other trends include booming co-working and affordable housing markets. Shared workspaces support small businesses and start-ups, which are both seen as essential to the ASEAN economies, while governments are also developing affordable houses for low-to-medium income groups to help restrain home price growth due to urbanisation.
We believe there are ample opportunities for real estate investors and asset managers, although not without risk. Real estate players need to understand how sustainability and technology are shaping consumer expectations for developers, whether, for example, through demand for smart appliances or use of big data in the sector.
We have an in-depth knowledge of the sector from working with a range of property businesses. Our Grant Thornton ASEAN professionals are ready to assist you in providing valuable business insights, strategic perspectives, evaluate business challenges and support your needs whether your focus is local or regional growth, risk management or cost management.