New Star favouring Asian property

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Asia and Australia are more interesting investment areas than Europe and the US, according to New St...

Asia and Australia are more interesting investment areas than Europe and the US, according to New Star international property manager Stuart Webster. Perth in Western Australia, for example, has a vacancy rate of 0.7% compared to London's 7%, Webster said. Japan is another area Webster favours, a nation that is recovering economically and has limited commercial property supply. Webster also likes Singapore where the fund's two largest holdings are situated. "Singapore makes up 14% of the fund and is an area we like immensely," he said. "Rents rose rapidly last year but are still h...