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American will be the most sought-after country for property investment in 2013
America will be the most sought after country for international property investment in 2013, says a new global investor report.
Asia will be close behind, along with the Western Europe capitals of London and Paris, as well as major German cities, according the Global Investor Sentiment Survey from Colliers International.
Major institutional and private investors representing a cross section of property investors globally were asked for their regional and global outlook for the coming 12 months.
The report’s key points are:
· Steady Western recovery: Investment is expected to grow slowly and steadily in Western markets through 2013, and core investment opportunities will become more difficult to find as investors hone in on a few key locations.
· Safe havens: Investors consistently chase properties in the same, “safe” markets, including London, Paris, Frankfurt, Hamburg, Munich and New York. Investors will continue to target these markets through 2013, but they will monitor the effects of the U.S. election result and Eurozone problems.
· Maximum security: Wealth preservation and secure income are still a priority for most investors. But, in the next six months, investors in the U.S., Asia and Latin America are the mostly likely to take on more risk.
The report featured nearly 500 responses from the most active real estate investors from the US, Canada, Latin America, Asia Pacific, Europe and the Middle East.
In EMEA specifically, the Colliers report found that despite Europe’s economic woes and the fears of a break-up, many investors (60%) see this period as a good time to invest and are looking to expand their portfolio in the short term.
London and major German cities continue to attract international investment due to their safe haven status. In particular, up until October this year, 74% of investment in London has been from or involved international sources.
A lack of supply is seen as a key constraint, particularly given investor focus on offices in central business districts, and the scarcity of development in many European markets.
Colliers conclude that in 2013 we will see more new lenders and mezzanine funds to partially replace the void left by retreating mainstream banks. And more generally, 2013 will be a year of continued recovery, with investment volumes showing modest growth as investors accept the new norm and sentiment improves.”
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