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Europe To Outperform US Real Estate in 2002, Forecasts LaSalle

LONDON-The European economy is forecast to avoid outright recession in 2002, and this presents opportunities for real estate offers investors looking for a safe haven, according to LaSalle Investment Management.

By Graham Parker | Updated on January 10, 2002

LONDON-Europe is emerging as a potential safe hghaven for global property investors looking to avoid recession-hit markets, according to new reearch from LaSalle Investment Management. The fund management arm of JLL is forecasting that in 2002 Europe will present one of the best opportunities for value-added and growth investing across the World. The 15 EU nations and the ‘Euro fringe’ should experience higher levels of leasing and rent growth than any other region.

But Gerald Blundell, Head of Investment Strategy at LaSalle Investment Management Property in Europe warned that Europe is not immune to the effects of the global slowdown. ‘Investor expectations for 2002 are very different from those of 12 months ago,’ he said. ‘While we may not see the stellar returns we saw in 2001, we expect property to continue to perform as advertised, with much greater price stability than equities and yields higher than bonds.’

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