Europe remains a favourite with global property investors, according to the latest Inrev-backed Capital Raising Survey which shows vehicles with a European strategy attracted 46% of the €121.8 bn that flowed into non-listed real estate last year.
The overall amount of equity was slightly down on the volume of €123.6 bn in 2015. However, expectations for the next two years are optimistic, as 70.4% of respondents believe capital raising will increase.
Of the €56.6 bn raised for European non-listed real estate, the lion's share came from Europe (73.7% or €41.7 bn). Asia-Pacific and North American investors added a further 8.6% (or €4.9 bn) and 5.5% (or €3.1 bn) respectively. The remaining 12.2% (or €6.9 bn) came from South American institutions (0.1%) or were left unreported (12.1%).
North America attracted €31.6 bn of the capital raised in 2016, while €21.7 bn was directed towards Asia.
The findings are outlined in a snapshot of the Capital Raising Survey 2017 that was circulated at the annual conference of the European Association for Investors in Non-Listed Real Estate Vehicles (Inrev) in Berlin on Tuesday.
The survey is a joint initiative between Inrev, its Asian peer Anrev and NCREIF of the US.
