2010 EXECUTIVE SUMMARY Introduction


Now in its fifth year, the Annual RICS and Macdonald & Company Asian Real Estate Market Salary, Benefits & Attitudes Survey is the most comprehensive survey undertaken for the property sector. The survey continues the success of earlier years.


949 Asian real estate professionals participated online in August and September 2010, making this the largest and most comprehensive survey of its type. Thanks this year as always must go to the RICS who actively promoted their involvement in the survey amongst their members. We would also like to thank all the participants who took time to complete the online survey. Besides statistics on current salaries, recent salary increases, bonuses and employment package benefits, the results give insight into wider issues that are important to real estate professionals in their role and their attitudes toward employment. This executive summary sets out the key findings of the survey.


For the 2nd year, we can now provide an easy to use online access to the full results, for more information contact Macdonald & Company.


Foreword


As 2010 draws to a close, the results of this year’s survey emphasize the key patterns in real estate related activity in the last year. It has been a year characterized by swing’s in global and local sentiment, with contrasting opinion and economic data preventing many businesses from committing to any one course of action. There is little to suggest that this era of uncertainty is about to change and indeed the confidence of our respondents has softened slightly from last year with 56% predicting an increase in economic activity in their sector during the next twelve months.


Despite this underlying uncertainty, there are areas of the real estate market in Asia that have thrived and businesses that have grown far faster in recovery than others. The contrast between institutional investors and service providers is startling, and the surging growth in salaries recorded in mainland China contrasts with relatively low growth in Singapore and Hong Kong.


International fund and asset managers average salaries have in fact eroded slightly, reflective of more hiring at a junior level but also of the difficulty in raising new capital and a focus on business development. Traditional activities of real estate service providers, such as quantity surveying, valuation, consultancy and leasing have seen increases in average salaries of 36-63%, reflective of shooting fee incomes created in no small part by the continued explosion in mainland China development.


Chinese development continues to be the dominant story with average salaries across the region rising everywhere, but established markets with relatively little development activity such as Hong Kong and Singapore seeing low growth in average salaries. The People’s Republic, however, recorded average salary growth of 28.8%, which is an almost identical rise to the previous year underlining why as an engine for so many careers and businesses in the region, the China growth story is becoming so crucial.


William Glover, International Director Macdonald & Company Property Limited, November 2010


For further information or analysis please contact: E: salarysurvey@macdonaldandcompany.com or call our Hong Kong office.


A comprehensive online statistics package for the 2010 survey is available at a cost of USD $999. In addition to the Asia, Macdonald & Company & RICS undertake remuneration and attitudes surveys for the following regions: UK, Middle East, Africa and Europe, all reports are available at www.macdonaldandcompany.com


The results have been collated and analysed by BluSky Research (a research trading name of BluSky Marketing Limited – www.bluskymarketing.com) for the second year. Designed by Born Creative UK Limited. www.born-creative.co.uk


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