As competition is heating up for the decreasing number of prestigious
development projects in high profile capital cities such as London or Paris, institutional property investors are increasingly diversifying into new sectors and looking east to new markets. As new members of the European Union are upgrading their regulatory environments, institutional property investors are looking in new directions, according to Paul Herrington, Head of Property Investment at F&C Asset Management.
Investors will naturally move to find new areas of value and "property investment is becoming a more global phenomenon with more cross-border deals than ever before," according to Herrington. Institutional investors are also taking a look at new areas in their home markets such as regional cities in France and second tier towns in the UK. In addition to the typical deals done for residential and holiday type developments, a new interest is developing for investment in property classes, such as hotels, student housing and car showrooms.
"The enlargement of the European Union and the improvements made by countries of Eastern Europe in making the regulatory environments more clear, fair and consistent and market data more accurate and comprehensive have all contributed to the creation of a larger level playing field for European property investors," said Herrington.
International Fund Investment
November 2, 2006
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