Buyers must hire skilled property appraiser or valuer
Mexico, which remained relatively unscathed, is forecast to see growth of around 5% this year, while Brazil, the region’s largest economy, and Argentina are forecast to show growth of approximately 3% this year. Meanwhile, prime office yields in Buenos Aires are expected to fall in the medium term as Argentina’s investment risk improves and more investment product comes onto the market.

Growth for the region as a whole in 2000 and 2001 is expected to be in the region of 4%-5%, with a number of countries including Singapore, Malaysia and Thailand exceeding this rate of growth.

Office rents and capital values are expected to increase by an average of 10%-15% over the next 6-12 months. As Thailand’s economy recovers strongly, the number of new business registrations in Bangkok grew by over 20% over the past year, while business closures fell significantly by 50%.

There may also be significance in a particular asset in the trust fund for one or more of the beneficiaries. However, improving demand saw the rate of decline in asking rents slow to between 1%-5% for prime space, compared to a rate of decline of 5%-11% in mid-1999. Regardless, if the subject has an extra half-restroom and the equivalent does not, the appraiser may add an indicate the comparable property valuation adjustment.

A further 257,432 sq m of new office space is due to come onto the market this year, of which 80% will be in the suburbs of the city, 15% in the CBD and 5% within the Golden Triangle, the prime office location of the city. Rental yields are also rising, demonstrating a buoyant ‘leave and license’ market. For instance, whether to leave an aged widow or widower, now living alone, in a large former family home that is a trust asset in which others have a capital interest is not infrequently a difficult and painful decision.

However, 2000 is showing further signs of recovery, with industrial production expected to rise by 2.3% in the first three months of the year, business investment rising and consumer spending showing indications of picking up.