2020 has been a tough year for everyone. Unlike the other sectors, the real estate departments of Asian countries have also seen ups and downs last year. During this phase, although the priorities have changed, the buyers' interest has not been diminished. The top 10 countries include The United States, Australia, Thailand, Canada, Malaysia, Japan, Singapore, United Kingdom, New Zealand, and France.
Therefore, let's see the recent data of Juwai IQI about the top ten favorite countries for Asian buyers in 2021.
Top 10 countries for Asian buyers
1. United States
According to this research, the United States is the most popular country for Asian buyers globally. The traditional American gateway cities like New York, Los Angeles, Miami, San Francisco, and more are the main places for these buyers who invest in the properties here.
Additionally, the number of high net worth searching to buy residences in the US has increased drastically from the last ten years.
Strengths:
- 23.8 percent of high-net-worth secondary homeowners are from Asia’s greater China in New York alone. The other cities have such records as well.
- The domestic Asian buyers who are not eligible for high net worth look for less expensive and smaller cities in the USA.
- Likewise, home prices are expected to increase by 10.3 percent from November 2020 to November 2021.
2. Australia
The second most favorite country on this list for Asian property buyers is Australia. During this pandemic, buyers from Malaysia, South Korea, the Philippines, and Japan seemed more interested in Australia's buying properties.
Strengths:
- Australia accounts for 13.7 percent of buyer activity.
- The housing values in Australia have gone up 2.8 percent in the three months to January 2020.
- Developers have started to approve new unit starts down by 8.6 percent.
3. Thailand
The next destination is Thailand in this list as it promises to recover and stand out this year. The property investors bargain-hunting will get many opportunities in Thailand's Bangkok, Phuket, and Chiang Mai.
Strengths:
- In 2021, their GDP is expected to regain some lost ground with a 4.5 percent growth projected.
- It continues to attract Chinese manufacturers.
4. Canada
Canada is the other popular destination for Asian buyers who want to purchase their second home out of their country. Buyers from China, Singapore, Japan, the Philippines, and South Korea are mostly attracted to it.
Strengths:
- Canada accounts for 8.4 percent of all Asian buyer interest.
- Its domestic market is strong enough to grab buyers' attention.
- Prices of the properties increased 13.5 percent nationwide.
5. Malaysia
Malaysia is in the fifth position on this list. The cross-border buyers, especially from greater China, are most active in this country. Hence, it has gained upper ranks in the past year as well.
Strengths:
- Malaysia accounts for 6.9 percent of all Asian buyer interest.
- Gradual growth is expected to happen in 2021 and 2022.
- Malaysia's predicted GDP growth of 6.5 percent in 2021 is one of the highest growths in ASEAN, and it is also above Southeast Asia's overall rate of 5.5 percent.
6. Japan
Then, Japan is also a trendy destination amongst Asian cross-border buyers. The main attractions for investors are the properties that are supposed to be operated as short-term rentals in urban areas.
Strengths:
- Japan accounts for 6.5 percent of all Asian buyer activity.
- In 2020, there was an increase in interest in Japanese ski property, particularly the properties that will be delivered later in 2021.
7. Singapore
Singapore is seventh in the most desired country for Asian buyers. Hence, it has successfully gained Malaysian buyers' interest and placed itself as a top ten destination for buyers from many countries.
Strengths:
- Singapore accounts for 5.7 percent of the Asian buyer interest.
- It gained market share in 2020 because of its accessibility to the largest Asian sources of residential property buyers.
8. United Kingdom
Then, The United Kingdom in the eighth position for the most popular countries for Asian buyers. Besides, its historical presence and reputation for quality education have paved its way for Asian buyers to develop interest.
Strengths:
- The UK accounts for 3 percent of all Asian buyer activity.
- The largest group of Asian buyers made 91 percent more purchasing inquiries on the UK's residential property in the second half of 2020, which can predict a good transaction rate in the upcoming years.
9. New Zealand
Although New Zealand's ranking has fallen in past years, it still has held the ninth position being one of the most favorite hubs for Asian buyers.
Strengths:
- New Zealand owns 1.6 percent of all foreign buyer interest.
- Their offshore and onshore noncitizens together completed more than 10 percent of home transfers in the country in 2020 than in 2019.
- The share of the market of non-citizens has also increased from 8.5 percent in 2019 to 8.9 percent in 2020.
10. France
Finally, the tenth position in this list is France. Although it is one of the popular countries in 2020 with buyers from Asia, it receives a relatively small share of total Asian buyers' interest compared to other favorite destinations as per data.
Strengths:
- France accounts for 1.4 percent of global Asian buyer activity.
- Investors from Mainland China, Thailand, Japan, Vietnam, and Laos are developing interest in this country.
