Europe losing investment appeal
Published 03/01/2012 | 08:00
Europe's sovereign debt problems and looming recession have pushed most European countries - except for a few, such as Switzerland and Poland - off the map for US property investors, Reuters has reported.
All European countries, except Switzerland, fell in the ranking of security and stability, according to the 20th annual survey of Association of Foreign Investors in Real Estate members.
A steep decline in votes for Germany moves Canada into second position and left Germany as the only European country in the top five.
Suspicion about European property will make it even harder for the National Asset Management Agency (Nama) to sell off Irish commercial property this year as it tries to earn some sort of return for Irish taxpayers and the Dublin government.
The United States remains the top choice of most global commercial real-estate investors in 2012, but the country has lost ground to Brazil, which ranked second last year.
While the US offers the most stable option in commercial real estate, investors said improvement in rent and occupancy growth would have the strongest impact on their decisions.