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LONDON: London has captured 27% of all cross-regional investment transactions worth over 6 million euros during 2009 and the first half of 2010 (1H2010), according to a statement by CB Richard Ellis (CBRE).
Other major cities such as Paris, New York and Sydney were among the top destinations for cross-regional investments. The top 10 targets accounts for 55% of such investments, representing a significant increase in the concentration of activity in the largest markets.
“At the peak of the market in 2006 and 1H2007, the top 10 cities attracted less than 40% of cross-regional investment. This change represents a flight away from any form of risk,” the statement said.
The 10 cities are London central, Paris, New York, Sydney, Tokyo, Berlin, Seoul, Singapore, Perth and San Francisco.
CBRE head of EMEA Capital Markets Jonathan Hull said: “As the market becomes more stable over the coming months, we expect that the major cross-regional investors will broaden their horizons and London will become less dominant as a destination for international capital.
"To an extent this has already seen in 2010, with acquisitions by the Korean National Pension Service of the Sony Center in Berlin and a share in the O’Parisnor shopping centre in Paris.
"A broader cross-section of location for cross-regional investors would have implications for the German market, as during the boom, Frankfurt, Munich and Hamburg also featured in the top 10 destinations for cross-regional capital.”
Other major cities such as Paris, New York and Sydney were among the top destinations for cross-regional investments. The top 10 targets accounts for 55% of such investments, representing a significant increase in the concentration of activity in the largest markets.
“At the peak of the market in 2006 and 1H2007, the top 10 cities attracted less than 40% of cross-regional investment. This change represents a flight away from any form of risk,” the statement said.
The 10 cities are London central, Paris, New York, Sydney, Tokyo, Berlin, Seoul, Singapore, Perth and San Francisco.
CBRE head of EMEA Capital Markets Jonathan Hull said: “As the market becomes more stable over the coming months, we expect that the major cross-regional investors will broaden their horizons and London will become less dominant as a destination for international capital.
"To an extent this has already seen in 2010, with acquisitions by the Korean National Pension Service of the Sony Center in Berlin and a share in the O’Parisnor shopping centre in Paris.
"A broader cross-section of location for cross-regional investors would have implications for the German market, as during the boom, Frankfurt, Munich and Hamburg also featured in the top 10 destinations for cross-regional capital.”
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