HONG KONG, Dec. 23 /PRNewswire-Asia/ -- The fourth annual RICS and Macdonald & Company Asia Real Estate Salary, Benefits & Attitudes Survey, with 1,536 respondents, shows that it is the most robust and respected survey of its kind. Response to the survey was up 40.9% on the previous year.

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    Highlights of the survey are as follows:

Average Asian Real Estate Salary

The average base salary of a real estate professional in Asia is USD$78,089 per year. Taking this view and in comparative terms the average salary has increased by 19.6% versus the previous year, which can be attributed to the higher percentage of respondents with more responsibility within an organisation.

Those working in Singapore are the highest paid in the region with an average annual salary of USD$104.2K, slightly higher than those working in Hong Kong USD$97.0K. Malaysia was the only main region to suffer an annual average salary decrease versus the previous year, USD$29.8K down from USD$39.9K.

The survey also shows that those with a RICS qualification earn 36% more than those who are "not professionally qualified". While on a regional basis, those working in Singapore with a RICS Qualification on average earn the most (USD$123.4K) followed by those working in Hong Kong (USD$106.3K).

Change to Salary at last review

Only 26.2% of respondents received an increase in base salary this year, significantly down from 63% the previous year. 8.1% received a salary reduction (versus 1.2% last year), while 39.7% experienced no change in salary (versus 30% last year).

Bonuses

46.6% of the survey respondents received no bonus whatsoever, 12.6% higher than last year. Only 53.4% received any kind of bonus, a drop from 66% last year, and the average bonus per year was USD$24,421.

Market Attitudes

Health insurance 61%, mobile phones 49% and performance related bonuses 32% are viewed as important benefits associated with respondents' jobs. And the majority of them are fairly or very satisfied with their current employment, 75% compared with last year's figure of 76%.

Market Sentiment has improved significantly, with 62% of all respondents anticipating an increase in economic activity in the next 12 months, up from 26% the previous year.

Mr William Glover, International Director of Macdonald and Company, said, "2008 and 2009 have proved to be unprecedented times for the real estate industry and the world economy as a whole. The real estate industry has been in the 'eye of the storm', capital values have plummeted and confidence has been lower than at any other time in recent history. Asia has not been immune to this but there has also been a marked recovery in some markets, notably the mainland and Hong Kong residential markets. In contrast, institutional investment and new development has slowed.

Despite this, our results show that while employment opportunities have reduced, more then 85% of those who have suffered redundancy in 2009 have already found new employment and there is a big increase in the number of respondents expecting better conditions in the year ahead. It is clear that professionally qualified employees have weathered the downturn better than those without qualifications and that their skills are still highly valued in the market place."

To view the full report, please visit the following link: http://www.macdonaldandcompany.com/document_uploaded/Full_AsiaSS_2010.pdf

About RICS & RICS Asia

RICS (Royal Institution of Chartered Surveyors) is the mark of property professionalism worldwide. It covers all aspects of property, construction and associated environmental issues. RICS has 140,000 members globally and represents, regulates and promotes the work of property professionals throughout 122 countries.

The RICS Asia supports a network of over 11,000 individual professionals across the Asia Pacific region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members.

The RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People's Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam. For more information, please visit: http://www.ricsasia.org .

About Macdonald and Company

Macdonald & Company is the leading professional recruitment consultancy to the property industry and built environment. The company has offices in the United Kingdom, Dubai, Hong Kong and South Africa enabling them to offer global reach with local knowledge. They act for a diverse range of clients, these include developers, investors, institutions, property companies, funds, banks and consultancies - indeed any organisation that occupies, owns, develops, invests in, finances or advises on property and construction. Annual surveys of remuneration and attitudes are undertaken for the following regions, UK, Middle East, Asia, Europe & Africa. For more details, please visit their website: http://www.macdonaldandcompany.com .

    Media enquiry, please contact:

     RICS Asia Public Relations Representative
     Ms Belinda Chan / Ms May Cheung
     Tel:    +852-2372-0090
     Fax:    +852-2372-0490
     Mobile: +852-9379-3045 / +852-9099-2218
     Email:  belinda@creativegp.com / may@creativegp.com

SOURCE Royal Institution of Chartered Surveyors

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