Tokyo overtakes Shanghai as the top spot for next year's real estate investment prospects among big Asian cities, a survey showed on Wednesday.
The Japanese capital has the best prospects and lowest risk among 20 locations，the survey conducted by US research institute Urban Land Institute and PricewaterhouseCoopers showed.
Tokyo moved up to the first place after being rated third in the past two years. Singapore is in second place and Hong Kong is third while Shanghai dropped to the fifth from last year's top slot.
Ho Chi Minh City was ranked the best market for office properties, followed by Tokyo, Mumbai, Shanghai and Bangalore.
Vietnam's former capital city was also rated on top for retail and apartment residential property, the study showed.
The strongest "buy" and "hold" recommendations for Tokyo were in the office property sector, where 46 percent of respondents placed "buy" and 43 percent gave "hold" ratings, said the survey for hundreds of investors, developers and lenders.
PricewaterhouseCoopers' partner Raymond Kahn said in a statement foreign investors remain interested in Tokyo even under the current weak property market conditions.
Property values are tumbling in New York, London and Tokyo after the global credit crisis roiled lending and sidelined buyers. In Asia, markets with the strongest economies and highest levels of liquidity will be most attractive as investors show a flight to quality, according to Stephen Blank, a principal researcher at the ULI."
Tokyo is a weaker market than last year, but clearly stronger than other global financial centers," according to executives interviewed by the ULI.
Shanghai fell to fifth in the survey because its risk rating was ranked 11th, the report showed.
The survey, based on 180 respondents ranging from global investors, property developers and brokers, was conducted between the middle of August to October.
译文:
东京——亚洲房产投资最佳城市
根据周三发布的一项调查显示，东京已经取代了上海成为下一年亚洲大城市地产投资的最佳地点。
根据美国城市土地调查机构和普华永道一起发起的这项调查显示，这个日本的首都在二十个候选城市当中是最繁荣且投资风险最低的。
东京自前两年都处于第三位后，进上升到了第一位，新加坡第二位，香港第三位，而上海则从去年的榜首跌倒了第五位。
胡志明市则在最佳办公市场的调查中位居第一，东京、孟买、上海和班加罗尔紧随其后。
同样调查表明，越南的前首都城市在零售和租房榜上也跃居第一。
对于东京购置或者继续持有地产的强烈建议是在商务楼的部分。针对上百名投资者、发展商和出租方的调查显示，有46%的回答者选择购置，43%选择继续持有。
普华永道的合伙人雷蒙德·卡恩在一项声明中说道，即使是现在货币市场相当疲软的情况下，一些国外投资者仍然对东京抱有一定的兴趣。
从全球的次贷危机席惹怒了出租方和一些持观望态度的买家后，纽约、伦敦和东京的地价正在下跌。据城市土地学会房地产融资部高级常驻研究员斯蒂芬·布兰克说，在亚洲，当投资者表示想要寻求质量保证的时候，具有最强大的经济和最高程度的流动性的市场就变成最具吸引力的了。
根据城市土地学会一次对管理执行方的采访中提到，和去年相比，东京的市场虽然稍显疲软，但是比起其他的全球金融危机的中心城市来说还是要强许多的。
报告显示，上海之所以从榜首跌倒第五位是因为它的投资风险度排到了第十一位。
此次调查是在去年八月中旬到十月在180名包括投资者，房地产发展商和股票经纪人中进行的。