Cushman Says Asia Is Best Destination for Property InvestmentsKathleen Chu
Cushman & Wakefield Inc., the largest closely held commercial broker, said Asia is the place to be for investment opportunities amid growing interest in the region’s property market.
“Interest in real estate is absolutely as high as we have ever seen,” Executive Chairman Carlo Sant’Albano, 49, said in an interview in Tokyo. “When you look at the growth profile of the world in the next several years, Asia remains absolutely critical path for growth.”
Asia accounted for 47 percent of global real estate transactions last year, according to data compiled by the New York-based broker. Global property investment volume will probably exceed $1 trillion this year, the highest level since 2007, according to the data.
China, Japan and Hong Kong were the top investment targets in 2012 from Asia, according to Cushman. The company, run by Italy’s Agnelli family that also controls Fiat SpA, expanded its operations into Taiwan and the Philippines this year to capture the opportunities in the region.
“If you want growth, Asia is the place you want to come,” said Sant’Albano. “If you want a very solid core investment, maybe more yield related rather than capital gain, you would look at Japan, London and Australia, and some of the major cities around the world.”