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Real estate firm ‘believes’ in Korea

Cho Jae-eun joong ang daily

Real estate firm ‘believes’ in Korea - Real Estate Agent - Real Estate - Korea - Jones Lang LaSalle - Real Estate Market - Asian markets

The real estate market in Asia is looking quite murky at present and the region is struggling to cope with the economic crisis.

But there are things to be cheerful about, according to Alastair Hughes, Chief Executive Officer of the Asia Pacific region at Jones Lang LaSalle.

“The [real estate] market has changed. There is more supply than demand. Rents and values are falling. Cities with large development plans are going to have the biggest problems. However, the high point is that this market [Asia] will recover the fastest [during this global recession],” he said during a recent interview with the Joong-Ang Daily at Jones Lang LaSalle’s Korean headquarters in central Seoul.

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