Overseas property news - Asia's‘eastern promise'

Asia's‘eastern promise'

The global property world is turning its attention to Asia, it has been claimed...

According to Cityscape Asia, the organisers of the world's biggest international real estate investment event, investors are hoping 2009 will be the year to begin picking up potentially ‘undervalued' assets ahead of regional economies emerging from the global financial crisis,

Graham Wood, Group Exhibition Director for Cityscape Asia, the organisers of the world's biggest international real estate investment event, explained: "Though not hobbled by the toxic debts that have paralysed many of their western counterparts, Asia's main economies are not immune to the global downturn.

"Some economists believe, however, that government stimulus packages and interest rate cuts will turn the tide with signs of recovery possibly emerging as early as Q4 2009."

Cityscape Asia has been organised with the assistance of an advisory board, which consists of industry professionals such as; Nathan Lloyd, Executive Vice President and Managing Director, MGM Mirage International; Lawrence D. Sperling, Head of Asia Private Equity, Mercury Partners and Chief Executive Officer, Peak Asia Management; and Nicholas Loup, Managing Director, Grosvenor.

Optimistic

n a joint statement, the board commented, "The past few months have been challenging for all of us working in the real estate industry. But out of the doom and gloom we are optimistic - trying to anticipate where the next opportunities will come from and how we can capitalise on them."

"Established firms, family enterprises and individuals with cash reserves, limited debt and an appetite for risk are expected to be among the first to begin searching the Asian market for bargains in coming months," stated Wood.

"Competition for prime real estate is easing and for investors with money, this could be a once-in-a-lifetime opportunity.  Predictions of a rebound in Asian property markets are based on continuing regional urbanisation which has, for example, seen an average eight million Chinese people move to cities annually over the last decade," he added.

Source:  www.cityscapeasia.com

© www.propertyo.com All Rights Reserved.24 Jacks Place, Shoreditch, London, E1 6NN.
Terms & Conditions | Privacy Policy