Market selection for international real estate investments

Abstract

This paper studies the market selection criteria in international real estate investments. It presents the results of a questionnaire study among internationally investing property investors in Europe. The results indicate that the most important factors for market selection are safety of property rights and title as well as expected return on property investments. Also other factors describing institutional set‐up and market maturity were found to affect the market selection process, whereas the correlation of the property returns was not found to have a large impact on market selection. Santruka Šiame darbe nagrinejami kriterijai, pagal kuriuos pasirenkamos rinkos tarptautinems investicijoms i nekilnojamaji turta. Jame pateikiami Europos nekilnojamojo turto investuotoju, investuojančiu tarptautiniu mastu, apklausos rezultatai. Rezultatai rodo, kad svarbiausi veiksniai, renkantis rinka, yra nuosavybes teisiu saugumas ir laukiama graža iš investiciju i nekilnojamaji turta. Nustatyta, kad rinkos pasirinkimo procese svarbūs ir kiti veiksniai, apibūdinantys institucine saranga ir rinkos branduma, o nekilnojamojo turto gražos koreliacija rinkai pasirinkti reikšmingos itakos neturi. First Publish Online: 18 Oct 2010

Keywords

• Real estate
• Investment
• International investment
• Market selection