The global real estate market has been given an upbeat forecast, with both developed and emerging markets said to be offering investors the potential to collect healthy returns.
Speaking to Investment International, Alan Supple, portfolio manager at Urdang, BNY Mellon's global real estate investment specialist, said that investors are taking on greater risks in the hope of producing higher returns in a low-yielding market environment.
"Despite the continued economic uncertainty, global equity markets have held up well so far this year and the real estate securities markets have similarly remained relatively stable," he explained.
Within the global real estate market, in low to modest growth markets which include the US, UK and Europe, he forecast rent and vacancy rates to continue to improve.
However, Mr Supple added that investors should remain cautious. While he states that a double dip recession is unlikely, austerity measures imposed by various governments are expected to threaten economic growth in the second half of the year.