Focus on Asia
In February, we held our fourth annual Visions, Insights and Perspectives (VIP) conference at the Terranea Resort in Southern California. For the first time in the history of this very successful conference in the United States, we organized an international panel that focused on Asia. There are many reasons why we decided to focus on Asia and not Europe, Latin America or the Middle East. Although not everything is sunshine and roses in Asia, there are compelling reasons why long-term real estate investors should not underweight Asia in their portfolios.
While most of these reasons are obvious to anyone who follows economic and political trends in Asia, I wanted to revisit them, especially in light of recent uncertainties and increased volatility in Asian markets that may test the faith of Asia bulls.
The most fundamental and obvious reason for any real estate investor is growth. China posted 10.4 percent growth (annualized) in the fourth quarter of 2009 and achi