Pricey US real estate hits global strategies
High prices for US real estate are leading investors outside the US to lower the amount they plan to invest in the market, despite the weaker dollar, the Wall Street Journal reported Wednesday.
Investors outside the US plan to reduce the US percentage of their total global real-estate acquisitions to 55 percent in 2005,from 71 percent in 2004, according to a survey by the Association of Foreign Investors in Real Estate, a Washington-based association of international real-estate investors representing 17countries.
They plan to shift some of that money into buildings in Japan, Eastern Europe and Australia.
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