The annual survey was published by the Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV), The European Association for Investors in Non-Listed Real Estate Vehicles (INREV) and Pension Real Estate Association (PREA).
“2015 looks to be an active year for Asia-based investors in global real estate investment allocation which is positive for the industry overall in this region and for cross-border flows,” said Alan Dalgleish, Chief Executive of ANREV.
Investors intend to increase the weightings of real estate in their portfolios, with the average allocation expected to rise to 11.3 per cent from 10.8 per cent, the survey showed.
The survey attracted a record 337 participants comprised of investors, fund managers and fund of funds managers. Out of the total, 82 were from the Asia Pacific region.
The current environment of low interest rates and low bond yields has highlighted the attraction of real estate as an asset class, especially for those seeking relative value when comparing real estate with low fixed income and volatile stock markets, the survey said.
The most popular investment destination is Tokyo, followed by Sydney, and tier-one cities in China such as Beijing, Guangzhou, Shenzhen and Shanghai. Melbourne is tied with the Chinese cities for the third spot.
Investors prefer to invest in the office market, while industrial and logistics rank second. Forty five per cent of investors expect to invest in the Tokyo office market this year.
In a separate survey by National Australia Bank (NAB), nearly seven in 10 residential property purchases by foreign buyers in Australia were less than A$1 million in the fourth quarter 2014. They invested as a way to diversify the assets in their personal wealth portfolio.
“If the Australian dollar stays at this level or weakens further, Australian property as an investment option for Asian investors will continue to remain attractive,” said Andrew McCasker, General Manager of NAB Private Wealth, Asia.
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