Forbes announces Asian Luxury rentals in Hong Kong, Beijing, Shanghai, top five

Hong Kong Central. Sino-New Society issued Lin Cen Xinhua Beijing, December 23, according to Hong Kong, "Wen Wei Po" reported that Forbes, a financial magazine, uses data from living capital in Asia to calculate the price of renting two-room mansions and finds that many of Asia's largest cities are listed, with Shanghai and Beijing ranked 5th and 3rd respectively, and Hong Kong 2nd　　TOKYO, Japan. The annual cost of living survey is launched annually by Mercer Consultants, and this year's survey shows that Mumbai, Singapore and Taipei are among the cities with the highest increases in Asian property prices.　　Forbes makes a careful analysis of the data on the survey and draws the rankings. "Europe was the most expensive area in the past, and the Life index in Asian cities has been catching up, mainly because of limited land, demand buildings and driving rents up," said Luce, chief adviser to Mercer. "While Japan was hit hard by the financial tsunami, the yen strengthened and hit exports, but the Japanese property market soon gained a foothold and the supply of new buildings in Tokyo began to increase at the end of 2009.　　Other Asian cities have rebounded from lows, for example, in Mumbai, India, where property sales began to fall in 2008, but local property prices rebounded 18% per cent this October. Yet the property market in India is far less red-hot than in the mainland and Hong Kong. The HKSAR government is the largest landlord and has been controlling the supply of land.　　The huge stimulus package in the mainland has led to hot money flowing into Hong Kong to buy flats. "The rise in property prices in Hong Kong is mainly hot money, low interest rates, lower tax rates and lower down-payment relationships," said Huang, director of the Research Department of the International Greater China region. The Hong Kong property market will continue to rise steadily until the mainland government tightens the policy. Real estate developers have an ideal sales performance and are sitting on huge sums of money. "We believe the property market will not fall, although it will not be as urgent as this year, but I do not believe the party will be finished so soon," said Ness of the Asia Research Department, CB Richard Ellis real estate consultancy. The financial tsunami did not originate in Asia, the origins of which are the United States and Europe.