March 23, 2005
Taipei's real estate investment market will be the third strongest in Asia over the coming three years, according to Jones Lang LaSalle. This forecast is included in a report on an annual survey focusing on fourteen Asian cities released recently by the US real estate services and money management firm.
As for the next twelve months, the report says real estate investors rank Taipei's real estate market fifth in Asia behind India's Mumbai, Bangalore and New Delhi and Jakarta, Indonesia.
In last year's report, Taipei ranked thirteenth in Asia for the three-year projection. By highlighting the strengthening of the capital city's real estate investment environment, the big leap to third in this year's report is expected to play a significant role in attracting foreign real estate investors to Taiwan.
Some recent points of interest regarding Taiwan's real estate market include the opening of the Taipei Financial Center, the world's tallest building, at the beginning of the year and the establishment of the nation's first real estate investment trust by Fubon Financial Holding Co. in February.
Despite a general concern that the recent depreciation of the US dollar would prove an inhibition to foreign real estate investors in Asia, the survey reveals there is still a strong interest in the region's real estate market.
(Central News Agency)
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