Property markets in the euro zone are the most fairly priced globally, according to Aberdeen Asset Management’s first quarter 2016 Global Property Strategy report, released in March along with regional outlook reports for Asia Pacific, Europe, the Nordics, North America and the United Kingdom. This is at odds with Hong Kong, which Aberdeen’s global pricing indicator suggests is the most overpriced real estate market in the world.

Macro fundamentals have been less of an issue than concerns over risk, given the tumultuous start to 2016 endured by global financial markets, notes the report, with risk-asset prices actually dropping while “core economic momentum appears to be fairly strong across most G7 economies.” This is somewhat of a reversal from recent years, when risk-asset prices were rising because of exceedingly loose monetary policy and “economic momentum was weak and slack evident,” states the report.

Fundamentals in key markets and positive