Global investors are attracted towards residential property in Singapore and Hong Kong. As per Gail Moss reports investors are taking the opportunities well in place even in Asia also.

According to Knight Frank in Hong Kong, Far East is witnessing hike in residential property, including Hong Kong where property rose 15% over the last 12 months, while Singapore overtake Hong Kong with a rise of 15-20% in the past year .

Singapore is enjoying strong GDP growth in 2010 and launch of two new casinos has attracted foreign investors.

In the beginning of last year, the property transaction which was pending has successfully sold its 85% of the D’Leedon complex of 36-storey condominiums located in prime District 1.

Knight Frank said that prices in Kuala Lumpur remain flat and this creates more favorable opportunities for growth than some neighboring countries.

Lee said that investors from Singapore, Hong Kong and China remain very attractive towards Kuala Lumpur and now it is seeing investors from Dubai and Abu Dhabi also.

Lee also said that local investors in mainland China are more nervous to invest in their own country because outstanding credit rose by 30% and seven cities in China have seen 50% surged in residential property over the 12 months to March 2010.