A good potential lies in Japanese and other Asian properties.
FT.com / Markets / Asia-Pacific - Property stocks lift Tokyo market: "Property stocks lift Tokyo market
By Mariko Sanchanta in Tokyo
Published: August 2 2007 05:41 | Last updated: August 2 2007 08:56
Tokyo shares closed higher on Thursday, led by a rise in real estate stocks after a report showed that land prices rose during 2006.
The benchmark Nikkei 225 average closed up 0.7 per cent to 16,984.11, while the broader Topix index rose 0.03 per cent to 1,669.33.
Shares of Mitsubishi Estate climbed 6.3 per cent to Y3,200. Mitsui Fudosan gained 4.2 per cent to Y3,230. Tokyu Land ended 7.9 per cent higher at Y1,208. In a report released on Wednesday, Japan’s National Tax Agency said land prices rose 8.6 per cent in 2006. Prices in Tokyo increased for a third straight year, gaining 17 per cent, the biggest increase recorded since Japan’s heady asset bubble era."
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