Real estate investment in Asia is continuing, regardless of the credit crunch. And recruiters say there are still plenty of positions to be had.

Robert Baird, of property recruiter Judd Farris Singapore, says the city-state has seen “massive” growth in real estate-related jobs, and that over the past three years property has become much more institutionalized, with investment banks playing a large role – either in an advisory capacity or as principal acquirers of property.

Candidates with solid real estate experience from larger property consultancies like Jones Lang LaSalle, or big developers, are most in demand, says Baird.

Nicholas Page, managing consultant at Judd Farris, says: “Around 60-70% of work we do with investment banks at the moment is with their funds teams for investments or funds positions, with the remainder more financially-orientated or advisory roles.”

ING Investment Management recently launched a new real estate fund in Hong Kong, which will invest predominantly in listed real estate securities across Asia Pacific. It believes strong economies throughout the region will continue to provide firm support for real estate fundamentals.

The last couple of years have seen a number of property acquisitions by investment banks, says Baird. Last month, FinanceAsia reported on several property transactions in Japan, including Morgan Stanley’s acquisition of Citi Japan’s head office in Tokyo, for example.

Real estate hiring isn’t entirely unscathed by the credit crunch, however. Following recent market volatility, Page says hiring has slowed: “We were working with a number of investment banks on different property-orientated positions, which in some instances have been put on hold indefinitely or are now no longer a priority.”

Andrew Brushfield, director at recruiter Robert Half Hong Kong, says whilst some larger investment banks are looking for people with real estate backgrounds, demand has only increased “marginally” this year.