An increasing number of real estate investors will be looking to take advantage of the distressed property market during the fourth quarter of this year as banks start to take a tougher line on failing loans. In particular, Spain, Portugal, the US
and Ireland will be favoured destinations for speculators.
According to a survey by the Royal Institution of Chartered Surveyors (Rics), in 20 of the 25 countries polled, there was interest from specialist funds looking to acquire distressed property assets.
"Significantly, specialist investors appear to be showing increasing interest in distressed property listings. However, ultimately banks hold the keys as to how the market for distressed property listings will evolve in the coming year," Oliver Gilmartin, Rics senior economist, said in a statement.
Meanwhile, the organisation found that demand for distressed property assets outstripped forecast supply in other markets such as Hong Kong, Brazil, China, Germany and Ukraine. However, in Ireland, UK, and the US the forecast supply outpaced demand.
- Thursday 25 November 2010