Even big Chinese institutions are being outbid for trophy assets and a growing number of Asian real estate deals are falling through, say market participants.
The fund industry's arguments over active management have been dismissed by the Hong Kong government and the pension authority, paving the way for the introduction of a low-cost and largely passive default fund.
Overvalued real estate is the biggest concern to Asian property investors, according to CBRE's annual poll. And despite concerns over a cooling market, China is seen as the top destination for cross-border flows.