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Record US$429b in funds for real estate
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FUNDS raised for global real estate investment have risen 5 percent to a record US$429 billion so far this year as investors turned to the sector for its relatively high income yield and prospects for capital growth, global property services provider DTZ said yesterday.
Across Asia-Pacific, there was a record US$122 billion in the pool of new money, up 4 percent from six months ago, said the DTZ Great Wall of Money report yesterday.
“Across the region China will continue to attract the highest level of capital at US$46 billion, and is the third most targeted market globally, just behind the US and UK,” said Andrew Ness, head of China research at DTZ.
“Japan is the fourth most attractive market globally attracting US$26 billion of capital with Australia attracting a further US$15 billion as investors are lured by higher return and lower volatility compared to other markets in the region.”
There will be US$7 billion targeting Singapore and US$4 billion eying Hong Kong, according to DTZ estimates.
While capital targeting real estate continues to increase, investors are facing greater challenges to find a home for their funds, the report said.
The investment market in Asia-Pacific actually took a breather in the first quarter of this year following a strong 2014 with investment volume down 30 percent from the same period a year ago to US$17 billion. Volume fell across all the major markets in the region.
“Despite a slow start to 2015, our research has found that investor appetite in the region remains strong,” said Dominic Brown, head of Asia-Pacific research at DTZ.
“Investors may need to accept more aggressive pricing in some markets, or move up the risk curve to source deals with value-add components for higher returns.”
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