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Article: Benefits and issues in Global real estate investing: a review of the research. (Focus on the Economy and Real Estate).
- Article from:
- Real Estate Issues
- Article date:
- September 22, 2002
- Author:
CopyrightCOPYRIGHT 2002 The Counselors of Real Estate. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Over the last two decades deregulation, growth, integration of financial markets, and significant political and economic reforms around the globe have propelled a dramatic increase in international investments. The level of international investment varies, however, significantly across countries. For example in 1993 U.S. pension funds had 4.5% of their assets invested in international equities (Bajtelsmit and Worzala, 1995) while U.K. funds had 25% of their funds in international investments (Sweeney, 1993).
Most international investments have focused on stocks and bonds and to a significantly smaller extent on real estate. Some institutional investors, ...