|
Forty-three percent of European investors intend to reduce their
property allocations over the next two years, INREV's survey of
90 respondents globally with 830 billion euros ($902.63 billion)
in assets under management found.
The reading compared to 37% of European investors surveyed who
planned to cut allocations the prior year in 2023, according to
INREV, which is the European Association for Investors in
Non-Listed Real Estate Vehicles.
"European investors are the most bearish," Iryna Pylypchuk,
director of research and market information at INREV, said.
"It is those with the higher allocations to real estate that are
affected the most," she added, saying some of the allocation
reductions could be met by prices correcting lower rather than
through "tricky" asset sales.
Nearly a third (32%) of investors in North America also intend
to cut real estate allocations over the next two years, the
survey found, while no respondents intended to do so in Asia
Pacific.
Within Europe, Britain rebounded to become the region's
preferred destination for real estate investments after a
six-year absence at the top of the rankings, Pylypchuk said,
adding the country had seen significant repricing of properties
already, relative to the continent.
($1 = 0.9195 euros)
(Reporting by Iain Withers; editing by Barbara Lewis)
[© 2024 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
