US Subprime Imapact on Asia Property

GIC says sub-prime crisis beginning to hurt Asian property markets

The US sub-prime crisis has begun to hurt Asian property markets, the real estate investment arm of the Government of Singapore Investment Corporation (GIC) said at the FT Asia Property Summit on Thursday. While Wall Street starts picking up the pieces from the sub-prime crisis, GIC said, the Asian property market has just started to feel the impact. The investor added the fallout would be even greater...

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