Middle Eastern Buyers Favour Asia Pacific Property

Investor sentiment from buyers in the Middle East continues to favour the Asia Pacific, it has been found. Almost half of the individuals questioned in the Jones Lang LaSalle Investor Sentiment Survey believe that the region's real estate market will post the strongest performance in the coming months....

Investor sentiment from buyers in the Middle East continues to favour the Asia Pacific, it has been found. Almost half of the individuals questioned in the Jones Lang LaSalle Investor Sentiment Survey believe that the region's real estate market will post the strongest performance in the coming months.

This, the report adds, is largely due to robust economic growth from China which has lead to the country becoming one of the world's five most active property markets.

Elsewhere, the Middle East was named as the second strongest market behind Asia Pacific, with 23 per cent investor sentiment. However, despite this, the majority of Middle Eastern investment organisations are placing their money into European property funds, with a 24 per cent increase in activity for the continent during the first half of 2010.

"Within the Mena region, with the exception of Saudi Arabia, investor focus is generally moving away from the Gulf Corporation Council towards North Africa and Levant. This northward shift is happening because investment opportunities in new product development are increasing and these markets have not been impacted by high supply levels," Andrew Charlesworth, head of capital markets at Jones Lang LaSalle Mena, said.

- Friday 08 October 2010

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