Jacques Gordon, Global Strategist at LaSalle Investment Management, told Property Report Asia that, ‘The strategic approach is to distinguish between assets that are genuinely attractively priced and those that should be even cheaper.’
La Salle recommends the following sectors worthy of attention:
1. REITs shares trading at a massive discount.
2. Fund units trading at steep discounts.
3. Non-performing loans or pools of partially performing loans.
4. Defaulted land deals or development deals in need of recapitalization, but priced such that investors get incomplete improvements at close to zero cost.
2009 is a time to watch the markets carefully, according to LaSalle. A time to evaluate carefully what is in the marketplace and look for opportunities.
LaSalle Investment Management believes that the Chinese government´s economic stimulus package is expected to result in price correction in the China property market being slower than in other regional and world real estate markets.
David Edwards, Asia director, La Salle in a China Daily report said, ‘We will take a very cautious approach this year and will not be in a hurry to make investments. It is still hard to tell when China´s property sector will complete the re-pricing as it depends on the recovery of demand.‘