Global direct real estate investment reaches record $290b.
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LANG Los Angeles Newspaper Guild LaSalle's latest global real estate capital report, "Record Volumes, Record Globalisation," records global direct real estate investment of $290 billion in the first half of 2006, up 30% over the same period in 2005. The Americas, Europe and Asia Pacific have all seen unprecedented levels of transactions.
Tony Horrell, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Jones Lang LaSalle's International Capital Group commented: "Real estate markets are continuing their strong evolution into a global asset class, with cross-border investment now representing 44% of total volumes, compared with 34% for the first half of last year.
"The real proof of this globalization globalization
Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation is that inter-regional investment, meaning transactions involving parties not from the region where the asset is located, now represent 31% of total volumes ($89 billion), up from 24% a year ago. In relative terms, the globalization of real estate investment has had the greatest impact on developing markets. In Central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. and some Asian and Latin American markets, inter-regional investors are purchasing the majority of available prime quality stock."
"Across the world, fund managers are receiving record capital inflows as populations in developed countries approach retirement age," continued Horrell. Many of these funds are attracted by real estate's strong stable returns; and we are witnessing a significant re-weighting of investment portfolios in favor of upon the side of; favorable to; for the advantage of.
See also: favor real estate assets. With this in mind, we believe that 2006 is on target to be another record year for commercial direct real estate investment, and we expect total transactions to reach $600 billion."
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Noble Carpenter, International Director, International Capital Group--Americas, "It is particularly interesting that indirect funds, principally REITs, valued at almost $30 billion were privatized in the U.S. This is not a trend we are witnessing elsewhere; indeed more countries are planning to introduce REITs in the near future, including the UK and Germany."
U.S. investors are deepening deep·en
tr. & intr.v. deep·ened, deep·en·ing, deep·ens
To make or become deep or deeper.
Noun 1. deepening - a process of becoming deeper and more profound their exposure to real estate investment in Europe and Asia, and Middle Eastern investors continue to make significant net investments in Europe and the Americas. In the U.S., Middle Eastern investors made significant purchases in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Boston, Houston and Dallas. Large investments continue to be made in the Americas by funds from Asia Pacific, dominated by Australian Australian
pertaining to or originating in Australia.
Australian bat lyssavirus disease
see Australian bat lyssavirus disease.
Australian cattle dog
a medium-sized, compact working dog used for control of cattle. funds that made large investments in California and Colorado. The U.S. markets that received the most attention from cross-border investors were New York (17%), Chicago (7%), San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden (7%) and Boston (5%).
As in 2005, the largest inter-regional investments were made by global sources of funds, which invested $22.3 billion in Europe (one-third of total inter-regional purchases). These global funds invested $39 billion globally, which is almost equivalent to all activity in the entire Asia Pacific region. Globally sourced funds purchased over 40% (by value) of all German commercial property traded in the first half of 2006 and were also significantly more active in the Americas and Asia.
Nearly 85% of total inter-regional purchases were in five markets: the U.S. (38%), Germany (19%), the UK (14%), France (8%) and Japan (5%). The share of inter-regional investment attracted to the U.S. and Germany has increased significantly since 2005, rising from 25% and 14% of total interregional in·ter·re·gion·al
Of, involving, or connecting two or more regions: interregional migration; interregional banking. investment respectively, and Germany has surpassed the UK as a favored destination. Globally sourced funds were very active in both markets.
Offices account for 48% of total inter-regional purchases (down from 52% in first half 2005) with $33 billion invested in the sector. Hotel investments have increased significantly to $16 billion (23% of inter-regional purchases, up from 20% in 2005); very large portfolios in the U.S. and across Europe have been purchased by interregional investors.