The government’s cooling measures across the Asia-Pacific region on the residential property sector, and the rising yield in the commercial sector has prompted the launch of CommercialAsia.com, the region’s first website dedicated to commercial and industrial properties.
CommercialAsia.com claims the largest database of commercial and industrial property listings in the region with over 150,000 current listings, and with expected growth to over 500,000 by the end of 2012.
The commercial and industrial sector’s potential growth is expected to be in the range of 5% to 10% for 2012. More investors are exploring investing in commercial and industrial properties due to their lower cost and higher return on investment, where they stand to make 4% to 8% yields renting their premises.
Spearheaded by The iProperty Group, the launch of CommerialAsia.com is timed in anticipation of the market trend. The Group analysed property searches and data from Singapore, Hong Kong, Malaysia and Indonesia over the last year to ascertain the level of interest in the commercial and industrial property industry.
“The iProperty Group’s data across Malaysia, Singapore, Hong Kong and Indonesia between 2010 and 2011 shows an upward trend in searches for commercial property. With the government introducing cooling measures across Asia-Pacific and the fear of possible recession in USA and Europe and assumption of that impacting Asia-Pacific, the residential sector is softening as investors adopt a ‘wait-and-see approach’.
“On the other hand, in the commercial and industrial sector, which is rarely governed by restrictive policies and has seen high yields maintained, there has been a steady gain in interest. The office sector is hot. There is a shift in individual investors from residential to commercial and this number will increase. In India for example, the office yields are at 11% and the retail yields are at 13%. It makes the commercial and industrial sector especially exciting right now!” said Shaun Di Gregorio, CEO of The iProperty Group.
CommercialAsia.com will be of great use to business owners and managers by assisting them in making informed decisions more efficiently, providing them with a convenient platform to locate business spaces across Asia-Pacific.
Customers can look forward to such features as translation services, information on current trends and research, a directory of property agents and owners, pricing trends as well as a dedicated trade forum to reach out to property experts.
The enhanced services will be made possible by partnerships with leading names in the sector, including LJ Hooker, Ray International Real Estate Group, Centaline Commercial, PropNex, Orange Tee, PropertyBank.
Mr Raymond Chow, CEO of Ray International Real Estate Group, said, “When arranging a partnership it is important to share a vision. The iProperty Group is not just in Singapore, it is global and as we all know, the commercial segment is in every country and is needed by everyone to run their business. To have a platform called ‘CommercialAsia’ shows that it is not just for Singapore but for Asia!”
Mr Di Gregorio said, “Given the growth in the industry, there is really a need for a single platform for the commercial and industrial property sector where potential investors can search for property, but also be able to make sense of trends and property news across Asia-Pacific. Being able to find everything they need in one place will certainly help them make more informed decisions.”