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After
the steep fall in property values over the last few years, you would
naturally expect a profound re-think of property as an investment class to
ensue. But has it?
Anecdotal evidence suggests that
individuals still prefer to invest in property, and wealthy families still
toy with the idea of giving a property to each child. Says financial planner
Benny Ong: 'A lot of Asians are obsessed with property. They're just waiting
to buy. They say they're waiting to gear up.'
Interest rates, after all, are at record
lows; home prices appear to have bottomed; and comparable market investments
like equities have only disappointed.
- Excerpt of article by Genevieve Cua Singapore
Business Times 22 Jan 2003
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