Real-estate prices extend their slide in much of region
Article Abstract:
The Asian real estate market is also declining in line with the region's economic slump. Prices of commercial real estate properties continue to fall while interest rates are increasing, in the second quarter of 1998. Retail property rental fees in Jakarta, Indonesia dropped 58% while prices fell by 67%. Office rents and prices in prime Hong Kong locations fell by 11% and 14%, respectively. In Kuala Lumpur, Malaysia, office prices and rents fell by 10% and 14%, respectively.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Thai real estate starts to gain attention from investors: declining prices and new rules on foreign ownership set U.S. company in motion
Article Abstract:
Asia Property Inc of San Diego, CA, reported it intends to amass over $150 mil from institutional investors in the US and Europe in 1998 in order to purchase distressed property in Thailand. The company is capitalizing on a new legislation made by the Thai Securities and Exchange Commission designed to lure foreign investors to Thailand's ailing real estate sector. Under the new law, foreign companies may have a 100% ownership stake in closed-end property funds.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Comment about this article or add new information about this topic:
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