32 3
EMEA INVESTORS’ INTENTIONS: PROPERTY PORTFOLIO (NEXT SIX MONTHS)
% 78 19 EXPANSIVE EMEA INVESTORS STICK TO THE FUNDAMENTALS
Without doubt, EMEA investors are expanding more than last year, with 78% planning to increase their investment in the next 12 months, up from 61% last year. This compares to 67% on average globally.
The main criteria for property investment remained roughly unchanged on last year. Property fundamentals and economic growth were the most important factors. Property yields surpassed sovereign risk to become the third most important consideration, as fears of a break-up of the Eurozone have receded, despite tensions in Eastern Europe. The cost and availability of debt made the largest leap, from the tenth to the sixth place. This is more surprising given that the cost of debt has reduced and availability has increased as new lenders have come in and competition has reduced loan to value ratios.
INCREASE IN RISK APPETITE
Expand/increase level of investment Maintain/consolidate/rebalance current investments Reduce/sell current investments
The survey clearly shows EMEA investors moving up the risk curve. While they were among the most risk averse globally last year (with only 33% looking to take more risk) most are now exhibiting a far greater risk-tolerance (66% plan to take more risk in the future to boost returns above the global average of 59%). Western European investors were relatively less risk-prone than MENA investors (61% versus 71%).
GLOBAL INVESTORS’ VOLUME FORECAST FOR WESTERN EUROPE (
EX.UK) (2015 VS 2014)
% 32 2 COLLIERS INTERNATIONAL 10 2015 GLOBAL INVESTMENT SENTIMENT REPORT UNCHANGED 41 15
DOWN 10%+ UP 10%+
DOWN -1% TO -10% UP 1% TO 10%+
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