Insurance News Archive

Foreign property markets important for owners and investors

Property owners and investors in the field of distressed commercial property are continuing to look overseas for property to acquire as they seek a "flight to quality".

That's according to Andrew Burrell, head of forecasting at Jones Lang LaSalle, who believes that while concerns are still around in almost all areas of the property market, investors are finding ways of getting around it.

He believes that now it is more about the quality on the country and the importance of the market rather than being necessarily about the property itself.

Mr Burrell said: "The bigger, more global markets will be the ones where people are most comfortable at the moment, rather than more risky and marginal markets outside of that group. It is a fairly general flight to quality."

According to the Royal Institution of Chartered Surveyors, Distressed property is expected to rise at the fastest pace in the Republic of Ireland, Southern Europe and the UAE, while agents in the UK, Hungary and France also anticipate increasing levels.

Posted by Judith Stevenson

30 Nov 2011