South East Asia is expected to see a further increase in property prices in the next six months as the infrastructure, investment and tourism boom continues in various territories, a new report by ASEAN Confidential shows.

In a survey of over 5,000 consumers from ASEAN countries, 73 per cent said that property prices are expected to rise by the end of the year.

Respondents from Malaysia were the most bullish, with two-thirds saying that the property market is booming. About 36 per cent of them chose Kuala Lumpur as the place to purchase a new house or condominium. The optimistic outlook is mirrored in Thailand and the Philippines, where 81 per cent and 73 per cent respectively, said real estate prices will go up.

"Strong economic growth, asset price appreciation, buoyant equity markets and inflows driven by quantitative easing are fuelling positive consumer sentiment across South East Asia. Plans to spend billions on infrastructure projects are propelling purchases and optimism across the region," said Liz Chong, head of research for the group.

On the contrary, while most ASEAN nations are excited to see a property boom, the Chinese government is exercising all means to prevent a bubble driven by a rapidly expanding economy. Recently, the state issued a guideline that will hopefully tighten its control over the continuously rising prices, including effecting as much as a 20 per cent tax on transactions.

So far, efforts have led to a slowdown in the increase in home prices in key Chinese cities, although the National Bureau of Statistics says the rates remain high. The highest property price growth rate recorded in April was 2.1 per cent, down from 3.2 per cent in March.

ASEAN Confidential is a research service by the Financial Times.