Global Property Investors Expect Spending Surge
Investor's Business Daily reports: Both foreign lenders and equity investors plan to increase investment
globally and in the U.S., their favored international investment
target, report members of the Association of Foreign Investors in Real
Estate (AFIRE).
The U.S. has more appeal this year, even after the economic tumult of
2008 and despite the painful impact of the global credit crunch on
commercial real estate, according to Jim Fetgatter, AFIRE's chief executive.
U.S. commercial property sales are down 73% to $139.43 billion in 2008 compared with 2007, according to research firm Real Capital Analytics. The shares of U.S. real estate investment trusts, or REITs, are off about 62% from their highs in February 2007, as measured by the benchmark MSCI US REIT Index.
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Posted by: Nina Turner