Residential prices in Asia continue to increase, contrary to the pattern elsewhere, according to the Global House Price Index for the second quarter of 2011 by property consultant Knight Frank. The index, based on a study of 50 countries, shows that Asia continues to be the top-performing continent in terms of house price inflation — a position it has held for seven consecutive quarters. According to a press release from Knight Frank, house prices declined in 23 of the 50 countries monitored by the index in the last three months. But Asia outperformed all other regions, with prices increasing an average of 8 per cent in the last one year. Price increase was the strongest in Hong Kong, with 26.5 per cent growth during this period. Global house prices rose 0.1 per cent in the three months to June 2011, contributing to an annual growth of 1.7 per cent, which contributed to keeping the index out of the negative territory. North America and Europe remain the weakest performing regions, where prices declined by 0.9 per cent and 0.1 per cent respectively, in the last one year. The global housing market is at its weakest since 2009.

According to Knight Frank, this weak performance shows the extent to which many of the global economies are struggling in the wake of the 2008-09 economic crisis. Lending, for most developed economies, remains constrained, confidence is low and households' disposable incomes are waning.

The overall fall in prices can also be attributed to the absence of double-digit annual price growth, which was observed in China, Singapore and India during much of 2009 and 2010. There are clear signs that Asian policy measures, aimed at cooling asset price growth are having some success. Annual price growth in Singapore stood at 6.7 per cent in the second quarter of 2011, down from 37 per cent a year earlier. Similar patterns are emerging in India and China, both of which recorded quarterly price drops in the three months to June, of 1.7 per cent and 0.1 per cent, respectively. A key component of Asia's 8 per cent annual growth in the second quarter of 2011 has been Hong Kong's strong performance. The Hong Kong market has displayed greater resistance to anti-inflationary measures, but the tide is starting to turn. Quarterly price growth in the second quarter of 2011 is at 3.5 per cent, from 10.1 per cent last quarter.

Winning the decade by GIREM

‘Winning the decade,' is the focal theme of the fourth edition of GIREM, Global Initiative for Restructuring Environment and Management, the flagship urban development and real estate conference to be held at The Zuri White Sands, Goa, between September 29 and October 1. According to a press release from the organisers, the Urban Development Minister, Mr Kamal Nath who is to address the conference, will share his perspective on India's urban development and future. He will also give away the GIREM Leadership Awards.

More than 400 delegates, speakers and industry representatives from 24 countries will participate in the event (www.girem.in). International property consultant Jones Lang LaSalle (JLL) is the knowledge partner for the event; Ernst and Young, the awards process knowledge partner; GenReal Property Advisors and Facility Management Zone, the associate partners; IPI B2B, the global partner; the Confederation of Real Estate Developers Association of India, the Industry Partner; and ACE Update, the media partner. GIREM 2011 will provide a platform for policymakers, decision-makers, strategic thinkers and people in leadership and authoritative position to bring their experience to catalyse the development and growth of real estate and infrastructure in India. Some of the speakers at the event include Mr Avinash Vashistha, Chairman and Managing Director, Accenture India; Dr Vivek Mansingh, President, Collaborations and Communications Group, CISCO; Mr Arun Nanda, Non-Executive Director, Mahindra Lifespace Developers Ltd.

‘States Showcase' will present three Indian states' (Haryana, Tamil Nadu and Gujarat) policies and plans for infrastructure development in their cities.

Microcrystal floors from Johnson GVT

The ‘Microcrystal' collection from Johnson GVT (Glazed Vitrified Tiles) from H & R Johnson (India) is the latest to hit the market this season. According to a press release from the company, the haute fashion collection offers eye-catching designs in unlimited colours for floors, adding elegance to interiors. Johnson GVT combines the time-tested strength of vitrified tiles with the timeless elegance of natural stone. The properties of the vitrified tile ensure low water absorption and guarantee high strength, while the glaze improves stain resistance.

The release, quoting Mr Vijay Aggarwal, Managing Director, Prism Cement Limited, stated, ‘Innovation has been our core value and we have offered innovative products time and again to satisfy various customers' needs.' Johnson GVT comes in colours and textural effects that were earlier impossible to achieve. The range has other collections such as textured — Anti-Slip Collection and metallic — Metallium Collection. Johnson GVT is available at the House of Johnson stores across the country.

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