August 22, 2001—The majority of real estate companies plan to increase their property holdings abroad, according to DTZ Research.
60% of the companies participating in the survey, said they aim to expand their foreign real estate over the next three to five years. Over the next two years, less than half (43%) plan to increase their foreign property holdings.
Investors from Europe, North America and Asia Pacific took part in the research, and their combined real estate asset value amounted to 158bn (250bn Euros). Nearly three quarters (70%) of respondents hold foreign real estate assets worth about 20 percent of their total property portfolio.
Peter Collins, managing director of DTZ EuroInvest, commented: “Investor appetite for real estate remains very strong, especially in Europe, and it is encouraging to see that the survey suggests that this interest is likely to grow. We are seeing evidence of this in Europe where direct cross-border investment reached over 16bn (26bn Euros) in 2000 and we believe it could go as high as 19bn (30bn Euros) this year.”
—Jessica Jarlvi
Reprinted with permission; copyright 2001 i-FM
