The most important finding of the survey involves a change in perception that is likely to give a positive boost to sentiment. This is that the Eurozone sovereign debt crisis, which was previously seen as undermining real estate investment, is now viewed as a potential stimulus for activity. Other main findings include a more balanced interpretation of recent regulatory developments, and conclusions related to the likely characteristics of the real estate market in 2013 :
Investors still view most European countries as attractive investment destinations ; this is particularly true for non-Eurozone countries such as the UK.
Investors think it likely that Basel III regulation will have an adverse effect on bank financing availability for real estate investment.
Investors anticipate that insurance companies and pension funds will likely pick up some of the volume of debt financing for real estate transactions.
Investors expect transaction volumes to rise, driven in large part by cross-border international investments.
Investors think green-building standards are playing a key role in many markets. Investors in most European countries expect stability and also some growth potential for prime offices or rising prices for prime retail and residential property.
Source : Ernst & Young