More Asian property investors are showing renewed interest in European properties as the financial crisis there has encouraged developers to offer discounted prices.
Analysts have noted that Asian investors are now eyeing properties that they would have avoided before while investors from the U.S. and the U.K. are taking a closer look at Asian assets.
London-based Aberdeen Asset Management revealed that some institutional investors from Asia are showing more interest in Europe and the U.S., even though they used to avoid unfamiliar locations before. It added that some of the best bargains can be found in emerging countries such as Germany, which happens to be Europe’s strongest economy. In addition, quality property assets in prime areas that are being offered at discounted prices are expected to yield good returns in the long run, added Aberdeen.
Meanwhile, New York-based Real Capital Analytics said more investors from Hong Kong and China are entering the U.S. property market. Compared to almost zero just 18 months ago, total transaction values now stand at US$1.5 billion.
If this trend continues, Aberdeen suggested that Asian investors could replace Europeans as the top foreign investors in U.S. property.
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