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Australia Rated Among Top Real Estate Investment Destinations
Kevin Fordham
The Investment Intentions Asia Survey 2009 was recently conducted by the Asian Real Estate Association (AREA) with the European Association for Investors in Non-Listed Real Estate Vehicles and the Pension Real Estate Association. According to the survey results, Australia is in the top position listed with China and Japan.
"A lot of investors are regularly getting on a plane to Australia this year," said AREA co-director Robert Lie. "This was not the case a year ago." Last year's inaugural survey did not mention Australia. This year, however, investors are looking for returns from core assests in developed markets.
About half of the survey respondents rated Australia and Japan as "the most appealing in terms of performance prospects in Asia". Forty-one percent rated Australian office and Japanese office investment as their preferred choice while Australian office and retail properties are viewed as "core assets".
Breaking down the respondents, there are three major categories: investors, fund managers and fund-of-funds managers. In terms of location preference, about 64% of fund-of-funds managers, 58% of investors and 40% of fund managers voted for Australia.
The respondents are expecting the market in Asia -- including Australia -- to recover next year, with some seeing signs of recovery starting this year. The survey includes 73 large global investment houses such as LaSalle Investment Management, Blackrock and Morgan Stanley. Survey results were released during the REIT World 2009 in Singapore.
7/7/2009
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