London tops property acquisition list
London is Europe's most popular location for new property acquisitions by investors in 2010, as the region's real estate industry improves on the back of easing credit and stabilising values, a report said on Monday.
The forward-looking PricewaterhouseCoopers and Urban Land Institute report also picked London to be the fifth best place for new developments this year, up 18 places, and fourth best for the investment performance of existing properties.
The UK capital's improved ratings for 2010 showed the significantly improved sentiment towards it, the report said.
An earlier survey by AFIRE in the United States, released on January 18, also showed London surged as the top destination for commercial real estate investment, beating Washington D.C. and New York.
ULI and PWC, which surveyed more than 600 industry players including investors, developers and bankers, said other popular European investment targets included Munich, Hamburg, Paris and Istanbul.
The overall market, however, still faced a long, slow haul to recovery, they said.
Source: GlobalEdge / Yahoo News |
