The Worst is Yet to Come for Asian Property

A report from the Urban Land Institute and PricewaterhouseCoopers shows Asian property is not immune to the global recession

The "day of reckoning is just around the corner" for Asian property markets because of falling asset prices, rising capitalisation rates, deteriorating debt markets, increasing foreclosures and bankruptcies, and plummeting transaction volumes as the financial crisis travels the globe, according to the Emerging Trends in Real Estate Asia Pacific 2009 report issued by the Urban Land Institute (ULI) and PricewaterhouseCoopers.

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