UK/EUROPE - Most investors are optimistic about the future of the property market, according to a survey by ING Real Estate Investment Management (ING REIM).
The survey found that 51% of investors were optimistic about the market, 38% higher than the previous year.
Robert Houston, chairman and chief executive ING REIM, said: “Contrary to much speculation, investors in property continue to enjoy the rewards of a strong market and we expect this to continue for at least the next three years.”
The survey also found that 39% of the investors were now prepared to consider investing in Europe. This figure was significantly higher than the 7% in 2002. Furthermore, indirect investment in Europe was now in excess of e365bn, largely due to capital from life companies.
Conversely, Ben Bridge, ING fund manager, explained that the UK property market was attractive to overseas investors due to its transparency, structure and low volatility.
“The principal destination for investment across Europe is the UK,” he said.
He added that property yields will remain stable in the short-term and compress the medium term.
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