Asia Pacific 'leading global real estate recovery'

The Asia Pacific region is leading the global property market recovery, which could be good news for anyone interested in property in Malaysia.

According to the second quarter International Residential Review from Chesterton Humberts, an increase in high worth individuals has helped fuel recovery in the region, particularly in Singapore, Malaysia and China.

"Disparities in the performance of global residential markets remain apparent in the post-recession era. The star performers are in the Asia Pacific region while recovery in Europe and North America is more laboured with transaction volumes remaining well below pre-recession levels," said Andrew Hawkins, head of international at Chesteron Humberts.

He added that appetite for prime residential property both for lifestyle and investment reasons remains "firm".

Earlier this year, Property Abroad stated that Malaysia's property market could benefit from the nation's strong tourism industry and the fact that its economy is recovering at a quicker pace than many other countries.