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This number "tells us that there are opportunities away from core markets," states London-based Angus McIntosh, a partner at King Sturge. "It could mean Poland, Ireland or the Czech Republic."
McIntosh also expresses surprise at the numbers some of the core countries pulled. "I'm surprised that France and Spain did not get more interest, since they offer better opportunity than the survey indicates, and Germany offers less opportunity."
When asked why certain countries held more appeal than others, 44% cited previous experience in the country. McIntosh says that this squares well with the popularity of the United Kingdom. "The UK has always been the easiest, and more people have invested in the UK historically because they feel comfortable," he tells GlobeSt.com. Other popular reasons for choosing their investment targets are: price of cash relative to the US (23%); low barriers to entry (16%); the legal environment (9%); and the tax environment (8%).
What asset sectors will these investors be considering? Some 41% say office is their choice. Retail comes in second at 20%; with industrial (16%); multifamily (13%); and hotel (10%) bringing up the rear.
Economic considerations, of course, do factor into investors' decision-making processes, and most think that the European economy will either remain stable (44%) or improve (36%). There's a 20% chance that the state of the European economy will slip, according to our respondents.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
