According to consultants Jones Lang LaSalle, Property investment in Asia reached a record $121 billion in 2007 up 27 % from the previous year.

And while the credit crunch took its toll in Europe and North America in the second half of the year, pushing down global transaction value by 8 % from the second half of 2007, investment in Asia surged 22% in the last six months.

Data from Jones Lang LaSalle shows transaction volumes globally in the first five months of 2008 were 40% lower than in the same period last year, dragged down by weaker activity in Europe and the United States.