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52


TARGET COUNTRIES FOR INVESTMENT


CANADA 26


% GERMANY 37 UNITED STATES 97


NETHERLANDS 21 FRANCE 21


UNITED KINGDOM 39 IRELAND 8


NORDICS 16 POLAND 16


CHINA 18 HONG KONG 8


SOUTH KOREA 13 JAPAN 23


NEW ZEALAND 8 MEXICO 13 BRAZIL 5 ITALY 18 INDUSTRIAL TOP PICK DESPITE COMPETITIVE MARKETPLACE


Survey respondents see many of the same property sectors continuing to draw investment in the coming year with almost 50% of US-based respondents targeting CBD office and 40% targeting shopping centers in the coming year. The one sector that drew the most interest in the survey was industrial and logistics where over 70% of our respondents claim to be seeking opportunities. They will find investment in this sector difficult as available inventory is low and ongoing interest from institutional and foreign investors continues to drive down yields.


Interestingly, property types that were less favored earlier in the recovery posted the strongest gains in transaction volume, indicative of broader improvement in fundamentals. Retail posted the strongest year-on-year increase, of 37%, followed by hotel (29%) and office (27%). The apartment category, the leader in the current recovery, was the only sector to post a decline in transaction volume, albeit a relatively small 5% decrease.


Also, out of favor earlier in the recovery, many secondary and tertiary markets improved as well through mid-year 2014, with Nashville, Philadelphia, Jacksonville, Baltimore and Denver all posting year-over-year gains in transaction volume of 40% or more.


COLLIERS INTERNATIONAL 2015 GLOBAL INVESTMENT SENTIMENT REPORT MENA 3 SINAGPORE 10 AUSTRALIA 31


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