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Monday, March 24, 2008

Asia property demand predicted to continue amidst global slowdown

SYDNEY: Demand for commercial and residential property in Asia will continue in the medium term despite a global property slowdown in 2008, predicts the Asian Public Real Estate Association (APREA).

Peter Mitchell, the CEO of APREA, told an audience of institutional investors at a recent seminar in Sydney that emerging Asian real estate investment trusts (REITs) made it comparatively easy and costeffective to access these markets.

“In certain Asian markets such as Hong Kong and Singapore, REITs are beginning to mature as an asset class,” said Mitchell. “As an investment instrument, REITs generally offer the longer-term investor steady dividend yields, a high level of management transparency and the potential for appreciation of the underlying assets.”

By The Edge Singapore

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