Mastering the metropolis through research and thought leadership.
Working Papers

International Real Estate Investing

Working paper #371
Peter Linneman

Tenant base and capital markets are globalizing and up to 60 percent of investment -quality real estate lies outside the U.S. In spite of this, most efforts to create global quality investment portfolios have fallen short. In major foreign markets, outsiders must possess either significant value-added operating ability, or access to “hidden” deals in order to realize above-average returns. Japan remains insular and changes are too slow to attract foreign real estate investment. Many countries in Latin America, Asia and Africa pose high political and economic risk and lack markets with meaningful exit opportunities. Protectionism and local regulations may create a barrier to potential growth in Europe. Most global real estate investors must initially choose local partners and then build their own infrastructure as they generate business. Despite these obstacles, capital markets create a demand for global real estate operators who best service customers and yield the highest returns.

Download full paper · 1MB PDF

In This Section
Explore Topics

1010 Affordable Housing Amazon Amenitization Architecture Artificial Intelligence Asia Australia automation Autonomous Vehicles bonds Borrowing Constraints Brexit California Canada Capital Business China Co-Working Environment coastal markets cold storage Colombia Commercial Brokerage Commercial Real Estate commissions Congestion consumer bias covid-19 CRE credit card market Credit Default Swaps Credit Insurance Credit Risk Transfers Culture Data Analytics data centers Data Collection Technology Debt Market Demand Demographics Density Development Discrete Choice disruption Diversity drones e-Commerce Economic Corridors economic policy economics education election studies Equity Funds Equity Market Ethnic Factors Europe Fannie Mae financial asset management Foreclosures Foreign Policy France Freddie Mac general equilibrium Global global economy Global Financial Crisis Globalization great depression Great Recession healthy buildings Hedonic hospitality Housing & Residential housing boom Housing Disease housing prices Housing Supply Identity Income Inequality India inflation Inter-generational mobility interest rates Investing jobs labor market Lagging Regions land use regulation Language life sciences Macroeconomics malls Market Pricing megacities Microeconomics Migration Minimum Payments Mixed-Use Mobility moral hazard mortgage insurance mortgage market Mortgage Rates Mortgages Multi-family Nation Building Non-Traditional Mortgages Office Market office sector pension funds Placed Based Policies Political Risk Price Discovery Private Equity Business public health public policy Public Schools real estate brokerage Real Estate Investment Real Estate Investment Trusts Recession Rental Retail Retirement reverse mortgages Risk Adjustment risk management risk-shifting robotics single family housing Slums Sorting South America Spatial Regions spillover effect stimulus package Sub-Prime Mortgages Supply Chains Sustainability Technology telecommunications trade transportation unemployment United States Urban Urbanization Warehouse welfare work from home