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European Property Investors 'Will Look to Asia'

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European Property Investors 'Will Look to Asia'

By - Tuesday 21 June 2011

Property investors in Europe are becoming increasingly interested in Asian markets, a senior executive at Savills has claimed.

Speaking at the Reuters Global Real Estate and Infrastructure Summit, head of the company's investment management business in the Asia-Pacific region Steffan Wolf predicted that the amount of European investment in this sector will rise substantially over the next three to five years.

"A lot more people are prepared to look more intently at Asia, from North Asia to Australia, including India," he asserted.

Mr Wolf went on to explain that investors will be looking for more than just one property in a single market and he told the news provider that he anticipates them to make multiple property purchases. This will enable them to get scale out of their property management activities, as well as to de-risk.

He advised long-term investors not to shy away from the Chinese commercial property market, particularly in Beijing and Shanghai, noting that the returns can be greater than in other Asian cities, although this kind of strategy does carry a higher risk.

Another tip for those looking for real estate investment opportunities is the Singapore and Hong Kong commercial markets, with office rents in the two financial centres expected to rise, Mr Wolf added. He acknowledged that the past two years has seen investments in both cities perform well, but stressed that demand for new space will continue increase as existing firms look to take on more employees, buoyed by strong economic growth in the region.

The Reuters summit is due to run for three days, from June 20th to 23rd, with a host of professionals from the global property industry to appear. Among them are Moody's Analytics chief economist Marc Zandi, the India minister of urban development Kamal Nath and chief executive officer of Interserve Adrian Ringrose.
 

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