JLW outlines Asia Pacific investment opportunities.

Jones Lang Wootton (JLW) recently played host to "Opportunities for American Investors" - a series of discussions on property investment in the Asia Pacific region held in Los Angeles, Chicago and New York - outlining prospects for U.S. investors interested in capitalizing on real estate opportunities

Charles Wheatman, JLW Proprietor and Pacific Director based in Hong Kong, provided a macro view of the Hong Kong, Singapore, Malaysia and Thailand markets, noting that last year's decline in Asian stocks were most severe in Bangkok, Beijing, Jakarta, and Shanghai. Describing the overall market, he said it currently has limited liquidity, low economic growth and less austere governmental controls on foreign investment, although more recently there are signs of more stability in the stock markets and currency exchange.

"The Asia Pacific economic crisis is creating unprecedented buying opportunities for foreign investors," Wheatman said. "We are confident that this is the time to invest on a selective basis."

Wheatman noted the following factors making the Asia Pacific region ripe for investors: massive currency depreciation; substantial properly value decline; short-term liquidity crisis; risks are now evident that is, investors can more easily identify and assess previously hidden risks; and U.S. investors are experienced in crisis management.

Among the highlights provided by JLW experts on specific cities or countries:

Hong Kong: "The tax environment is extremely friendly for foreign investors, and there is no capital gains tax," said Wheatman.

Shanghai: "This is a small market with risk, yet high capital return. We advise using caution and taking the long-term view." said Wheatman.

Singapore: "There are no restrictions on foreign ownership, except on residential property. We expect rents on residential, retail and office to hit bottom in mid- to late-1999," said Terence Tang, JLW Associate Director of Investment & International Sales Department based in Singapore.

Malaysia: "Foreign ownership was nonexistent until a year ago. With the current crisis, foreign investors can own controlling interests of real estate," said Sunny Lai, JLW Director.

Thailand: "Thailand was one of the first of the Asia Pacific countries to go into a recession and we expect it will be the first to come out. We predict an upturn in 1999," said Craig Plumb, JLW Director.

Australia and New Zealand, however, provide a far different story, according to John Henderson, JLW Managing Director of Sales & Investment. "The economic situation parallels the U.S. economy," he said. "Australia and New Zealand, he offer an affluent, mature, transparent property market. The countries are marked by low inflation, attractive currency, strong domestic economies and accelerating rental growth. In other words, the surf's up. Now is the time to invest."