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Here is the latest information about FIABCI Press News! Please contact me for more
information about FIABCI at dagmar@worldClassrealestateBroker.com or e-mail us at:
info@fiabci-usa.com Our corporate website is: www.fiabci.com
Dagmar Sands - Real Estate International, Inc.
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Trends Overseas Property Purchases Double in Korea Koreans have actively invested in overseas property since the government eased investment rules, allowing the outflow of dollars in late May. The purchases of real estate in foreign countries for investment purposes more than doubled to $54.2 million in June from $26.9 million a month earlier, according to the Ministry of Finance and Economy. The number of investments in overseas properties rose to 145 from 64. The cumulative investment in overseas real estate in the first half to June increased to $140 million in 383 purchases from $9.3 million in 29 the previous year. "Individuals are showing a greater interest in overseas real estate investment, following the relaxation of foreign exchange rules,'' the ministry said. With demand for overseas real estate growing, overseas real estate development project managers are visiting Korea to attract local investors. Given the outlook for the sluggish domestic real estate market, retail and corporate investors are expected to expand their investment in overseas properties. By region, the U.S. was the most popular investment venue with 49 out of the 145 overseas property purchases being made there. APREC congress to take place in Autumn 2007. |
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