A foreign affair: Various factors are pulling, and pushing, Asian investors into overseas real estate markets
It is very pleasant to be in London in the summer. The nights are long, temperatures mild and, given the right environment, a couple might meet for a melodic duet in Berkeley Square. At least, that is what the song says. Two people find each other in the song, “A Nightingale Sang in Berkeley Square”. But, and if we might stretch the metaphor slightly and imagine that a bit of Berkeley Square was for sale, more often than not at least one of them would have an Asian accent.
Asian investors have been buyers of real estate on a global scale for more than five years, and the trend only looks set to continue. But they are changing their tune in terms of what they are seeking when they talk to property fund managers, investment advisers and the brokers that help them invest directly. The industry is maturing, and the way it transforms is likely to shape real estate markets both in Asia and further afield.
As Eduard Wehry, head of investor services for Asia at CBRE Global