The Asian property investment market suffered a massive fall in the first quarter of 2009 with Japan, Singapore and Hong Kong suffering the most.
The region experienced an 83% quarter-on-quarter fall in sales, according to the latest research from property consultants CB Richard Ellis.
Asia's industrial property sector underwent the largest drop by market segment, plummeting 95% from the same quarter a year earlier. This was followed by office and retail property transactions which slid 89% and 40% respectively.
Singapore experienced further declines in investment sales in the first three months of the year with only a few isolated transactions. Analysts said that potential buyers and investors are adopting a wait and see attitude.
