HONG KONG, May 7 /Xinhua-PRNewswire/ -- While bankers, fund managers, investors and even governments are beginning to witness the detrimental effects of mortgage risks, central bankers and economists are urged to investigate and examine the current crisis. RICS takes a pro-active approach to study the major mortgage-related problems and offer suggestions backed by detailed analysis of various Asian and developing markets.
A book titled "Mortgage Markets Worldwide", jointly published by RICS and Blackwell Publisher, will soon be launched in mid May, with extensive focus on mortgage markets of China, India, Singapore, Japan, etc. The book will cover comparative studies of emerging markets and fast developing markets such as Czech Republic, Hungary and Russia as well as all major Asia countries.
"Mortgage Markets Worldwide" aims to explore and examine mortgage markets of the designated regions. Besides the comprehensive analysis of each market, the final two chapters by two of the leading housing economists in the world provide a clear summary of lessons to be learnt for developing markets. Through this thorough analysis, major existing problems in mortgage markets are explored, highlighting the current steps adopted to solve these problems, propositions for dealing with the major issues in the future and the implied developments of the markets.
Prof. Charles Leung commented, "Traditionally real estate economics and finance are sometimes considered as of secondary importance. The Asian Financial Crisis and the recent Subprime Crisis may suggest a second thought. By covering markets in different Continents with wide variations in history and institutional settings, this book may serve as a first step to rethink the "optimal mortgage market structure" and the most desirable level of governmental participation in it."
Mortgage markets are more than simply the means by which real estate transactions are financed. They are also a key indicator of the level of development of a country's entire economy, in which banks are able to manage the associated risk and where governments use them to promote their social and economic policies.
Media enquiry:
Ms Belinda Chan / Ms Katherine Chow
RICS
Tel: +852-2372-0090
Email: belinda@creativegp.com / kat@creativegp.com
