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CK Choy.

Market Sense 市场意识: 2012全球房地產投資下降
Be decisive, Be patient, Don’t be greedy, Don't be stubborn

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Tuesday 15 November 2011

2012全球房地產投資下降

Created 11/14/2011 - 14:15

《The Great Wall of Money》報告指出,2012年投向環球房地產市場的投資金額預期為3160億美元,較2010年底估算的投資金額下跌4%。這是自2009年年底以來,環球房地產市場的投資金額首次沒有出現預期的增長。原因是基金較難籌集新資金,轉而調動現有資金以作投資用途。

歐洲沒機會
美洲小漲

《The Great Wall of Money》報告追蹤環球新資金直接購買房地產的情況,並介紹目前市場的新機遇。各地區中,新籌集資金上升的只有美洲,較上一次統計時增加3%至1140億美元;反觀亞太區的新籌得資金則較上次統計時跌12%至910億美元,歐洲亦跌3%至1110億美元。

撰寫報告的Nigel Almond說,由於環球經濟前景再添陰霾,更多基金利用現有資金作投資,各地市場新籌集的資金也減少。亞太區物業價格較理想,吸引更多基金,令區內在2010年至2011年上半年間的物業交易量大增。

歐洲、中東及非洲地區方面,過去兩年間新籌集的資金量大致穩定,但物業成交數字不多,反映專注投資於歐洲的基金較難在區內找到合適的投資機會。

美洲的新籌集資金量繼續上升,但物業交易只有輕微增長。

商舖投資是全球風

大部份投資者均選擇多於一個類型的物業為投資目標,這類投資佔整體房地產投資金額達到80%;專注單一物業類型的基金最青睞的物業類型是商舖,投資於商舖的基金佔總數35%,其次是工業類物業。

報告發現,投資於單一國家的基金首次占各類基金的大多數為52%,而2009年這類基金佔整體的比率只是30%。這項轉變反映了在環球經濟風險增加時,投資者傾向投資於他們熟悉的場,投資於單一國家的基金中,最多基金選擇美國為投資地區,佔總數的51%,其次是英國,佔10%。

新基金將會減少

報告分析顯示,未來亞太、歐洲及美洲三大地區房地產投資金額中,非本土資金的比重都會增加,表示明年有機會出現更多跨地區的物業投資買賣。

亞太區的非本土資金在上述的18個月內佔比為11%,但明年預期佔比將增至66%,約佔整體房地產投資金額的三分之二。然而在近期環球波動的市況下,明年亞太資金跨地區投資活動不會太活躍。

DTZ戴德梁行全球研究部主管Hans Vrensen表示,雖然房地產比其它資產有更高的投資價值,但環球市場的不明朗,將在未來一段日子影響新資金的籌集。

如果環球經濟持續沒有起色,戴德梁行預期隨著企業推遲上市計劃,第三方基金亦較難吸引新的投資時,投向全球房地產市場的資金就會減少。

Source/转贴/Extract/Excerpts: 星洲日報
Publish date:14/11/11

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