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Knight Frank launches Prime Asia Development Land Index Momentum slows in ASEAN land markets ahead of AEC

15 August 2015

Knight Frank, the independent global property consultancy, today releases the Prime Asia Development Land Index for H2 2015. The index derives the price of prime residential (apartment or condominium) and commercial (office) development land in 13 major cities across Asia.


Report highlights:

  • The index shows the price growth of prime residential sites in the region slowing to 1.1% in H1 2015 from 3.0% in the previous six months. Meanwhile, the prime office development land index gained momentum, rising 3.6%, up from 2.6%.
  • Phnom Penh recorded the strongest increase in both residential and office land prices in H1 2015. 
  • Extra cooling measures introduced in Hong Kong targeting mass residential market appeared to have channel demand to luxury sector.
  • Local governments in China have reduced land supply and maintained aggressive pricing.  H1 2015 saw land sales volumes in China plummet by 54.8% year-on-year.
  • The dearth of new supply in China in In H1 2015 has led development land investment volumes in Asia to plunge by 51.3% year-on-year. However, Chinese insurance companies such as Ping An are taking on more development risk. Their land investment swelled by 234.3% year-on-year and 83.2% over the previous six months to reach US$3.3 billion. 
  • Political deadlock, especially when it comes to the contentious reform on land acquisition act, has resulted in 64.1% less investment year-on-year in India as well. 
  • While foreign purchase of land in the region as a whole also slowed, that in Southeast Asia saw a fourfold jump.
Mr Nicholas Holt, Head of Research for Asia Pacific, says, “While our index shows prime development land markets have lost some of their upward price momentum in the ASEAN region, overseas developers continue to be attracted to the region’s development markets. 
“The first six months of the year saw Australia’s Lend Lease make two significant investments in Singapore and Malaysia, while Chinese developers remain active in the region, partly due to the more difficult conditions in mainland China.”
To download the report, please visit:

For further information, please contact:

Mr Nicholas Holt, Head of Research for Asia Pacific   +65 6429 3595 @nholtKF
Rachel Loke, Head of Asia Pacific Public Relations & Communications +65 6429 3587 @knightfrank
Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank, together with its US alliance partner, Newmark Grubb Knight Frank, operate from 370 offices, in 55 countries, across six continents and has over 12,000 employees. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit