Luxury home price growth in Asian slowing

Luxury home prices in Asia posted further gains in the first quartet of 2012 but the rate of growth has eased as government property cooling measures have taken effect, according to a new report from global research and real estate consulting firm CBRE.

CBRE Asia Luxury Residential index increased by 1.1% quarter on quarter but among the 13 major city markets tracked by the index nine saw only modest price rises of between 0.7% and 3%. Price growth was led by New Delhi and Mumbai which saw gains of between 2% and 4% quarter on quarter due to a lack of supply. Other strong performers included Manila and Kuala Lumpur where buying demand remained firm. There was mild price growth recorded in Beijing, Shanghai, Guangzhou and Shenzhen.

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