Page 18 - Collection Magazine Volume 72 - List Sotheby's International Realty | LISTSIRHK

S OT H E BY ’ S I N T E R NAT I O NAL R E ALT Y 蘇 富比 國 際 房地 產

In Conversation with Christopher Palumbo,
Head of Region, Asia-Pacific of Sotheby’s
International Realty

Q: How have Japan, Hong Kong and Singapore Manresa Road, London, England | Photo credit to United Kingdom Sotheby's International Realty.
attracted foreign real estate investors in the from Mainland China and around the world. from the United States, Switzerland, Norway,
last three years? Notwithstanding a general moderation in home Iceland, and Lichtenstein–who accounted for
A: The last three years have been a unique values this year, such programs would tend to an average of 250 sales transactions per year
period in Asia Pacific real estate, with travel support the luxury segment moving forward. from 2018-2022–are exempt from the ABSD
restrictions, interest rate rises, currency Otherwise, Hong Kong has asserted itself per their respective free trade agreements.
rate movements, and inventory challenges as a conduit for outbound wealth into global Another niche investment opportunity–
influencing the market preferences and property markets. In more than 80 countries shophouses have caught the attention of
prerogatives of international investors. around the world, the Sotheby’s International purchasers with an eye for Singapore’s history
During the pandemic, markets were driven by Realty network is well-positioned to facilitate and architecture.
domestic demand. Since late last year, people these investment opportunities.
and capital have been on the move again. That Q: Other than these three markets, are there
said, every market in Asia Pacific is unique, Singapore’s unrivalled status as the business potential niche investment opportunities
with its own dynamics and conditions for and financial hub of Southeast Asia continues throughout the Asia-Pacific region?
overseas investment. to grow. In Singapore, the recent increase in A: There are solid cases for potential niche
the Additional Buyer’s Stamp Duty (ABSD) investment opportunities throughout
Japan has emerged as one of the most aimed at cooling foreign investor demand is a the Asia-Pacific region. For example, in
attractive destinations for foreign investment sign of just how active the market had become. Brisbane–the host city for the 2032 Summer
due to a combination of factors such as Nevertheless, opportunities remain. For Olympics, infrastructure development and
market liquidity, the weak yen, and low example, nationals and permanent residents a sustained pattern of Australian inward
relative transaction costs. But beyond
practical considerations, Japan’s cultural
and geographical diversity presents overseas
investors with many lifestyle options. From the
streets of Tokyo to the gardens of Kyoto, from
the slopes of Niseko to the sands of Okinawa,
Japan offers value and abundance.

In Hong Kong, the airport is bustling
again, business is returning to normal, and
integration within the Greater Bay Area is
accelerating. Policy measures were introduced
earlier in the year to attract HNWIs and family
wealth management offices to set up in Hong
Kong. Likewise, talent admission schemes
have produced an influx of professionals

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