THE EUROPEAN property sector is seeing a rebound in investor sentiment, with both the levels of activity and risk on the rise, property advisory firm CBRE reported yesterday.
In a survey released ahead of next week’s MIPIM property conference in France, CBRE said 58 per cent of 362 investors questioned said they expected to buy more this year than last. This compares with 45 per cent giving the same answer last year.
Within this, a third of investors expect to be spending over 20 per cent more on investment deals in 2013 than they did in 2012.
The number of investors planning to spend less this year than in 2012 halved to six per cent.
In another sign of returning confidence, CBRE said 71 per cent expected to be net investors with purchases exceeding sales, up 10 per cent on last year.
Prime properties remain the most attractive asset class with 53 per cent of respondents indicating their preference for this sector.
However the survey showed more investors were willing to look at riskier assets and projects as the prime market becomes crowded, with 40 per cent indicating “good secondary” and “opportunistic” assets as the most attractive.