By Louise Ho (China Daily HK Edition)
Updated: 2006-12-13 11:17

Hong Kong property professionals have the highest average salary in the sector in Asia (minus Japan), a survey on current salaries and growth trends has shown.

The 2006 Asia Salary and Benefits Survey is the first of its kind in the region.

It was conducted by international professional organization Royal Institution of Chartered Surveyors (RICS) and London-listed recruitment consultants for property and construction Macdonald & Company.

RICS and Macdonald & Company have been conducting similar surveys in Europe since 2000.

Hong Kong property professionals' average salary is US$81,700 a year and their mainland counterparts earn US$77,200, with those in the rest of Asia drawing US$70,700 a year.

Mainland professionals, however, get a far higher bonus (US$19,388 on an average) than their Hong Kong brethren (US$7,371).

The survey interviewed 769 property professionals from more than 10 Asian regions online in August and September this year.

The respondents' median age was 39.6 years and they had an average experience of 12.7 years, with about 60 per cent of them working in quantity surveying, project management and valuation.

Macdonald & Company's director of Asian Operations William Glover said: "Hong Kong property professionals have significantly lower bonus than their mainland counterparts because many respondents in Hong Kong work in quantity surveying. The profession offers less rewards than other sectors... such as financial services and investment.

"The mainland, on the other hand, has more development and investment projects, so its property professionals enjoy higher bonus."

Hong Kong professionals may have the highest salary in the property market today but their mainland brethren could overtake them next year.

The survey shows that the mainland has the highest average salary increase, of 13.8 per cent, that is, twice the rate of Hong Kong's 6.3 per cent.

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