Faber Likes Asian Property, Says Stocks `Vulnerable'

Asian real estate offers better value than property stocks because the region's equity markets are still 'vulnerable,' said Marc Faber, an investor who predicted the U.S. stock market crash in 1987.

'I'm optimistic about Asia and emerging markets, but the stock markets at the present time are still vulnerable,' said Faber, who oversees $300 million in assets at Hong Kong-based Marc Faber Ltd. 'As an asset class, real estate in Asia presents tremendous opportunities'' as 'urbanization gets under way.'

'If you compare Singapore to an equal city in the western world, like London, New York, Singapore is not expensive, it's reasonable,' Faber said. 'They are not in a bubble stage like they were in 1996 and 1997.'