European cross border property investment: a UK perspective

Hake, Simon (2007) European cross border property investment: a UK perspective. BSc dissertation, University of Portsmouth.

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    Abstract

    This project sets out to identify and analyse the impacts that transparency, yields, valuation standards and the internationalisation of property consultancies have on UK investors in their European cross border property investment activity. As a consequence of the financial deregulations of the 1970s Capital investment in European property has been increasing, particularly cross border investment. By 2005 European Commercial real estate investment reached $191 billion, increasing by 20% compared to investment levels in 2004. Cross border capital flows increased from 48% of total investment in 2004 to 59% in 2005. European Cross border investment activity has been concentrated in Germany, France and Sweden. UK investors were particularly active in the German property Market. The levels of overseas investment are attributed to the yield compression in the UK and the search for high returns. Evidence suggests that the changes in deal transparency, international property consultancy presence and international valuation standards have directly led to a reduction in the barriers to international property investment. There is a direct correlation between investment levels in European countries and market transparency. Investment activity will however, depend on the risk profile of the investor; opportunistic investors are prepared to accept higher risks, in the hope of higher returns. It is the opportunistic capital that creates greater transparency for the core and core plus investors.

    Item Type: Dissertation
    Departments/Research Groups: ?? EDAM ??
    Depositing User: Jane Polwin
    Date Deposited: 20 Jan 2011 12:48
    Last Modified: 28 Jan 2015 11:14
    URI: http://eprints.port.ac.uk/id/eprint/425

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