Why Asia’s Rich are Buying Up Real Estate

Published Tue, Jul 3rd, 2012   Wall Street Daily Research

 

Wall Street Daily’s Karim Rahemtulla and Louis Basenese aren’t the only ones tuned in to real estate investments now.

According to Reuters’ Tessa Dunlop, “Real estate is viewed as a safe investment in many parts of Asia, despite worries about a property market crash.”

Why are they turning to real estate? Essentially, it’s a way for Asia’s elite to protect their wealth as uncertainty continues to grip the market and a slowdown in China looms larger. Like Dunlop says, “As a popular saying goes, ‘property may get sick but it never dies.’”

And Asia-Pacific Chief Investment Strategist of Citi Private Bank, John Woods, adds that investors in Asia are practicing “caution, caution towards the global environment [and] caution towards a China slowdown.”