Anmerkungen:
In: BIS Quarterly Review, September 2020
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 14, 2020 erstellt
Beschreibung:
Cross-border investment in Asia-Pacific commercial real estate (CRE) has increased since the Great Financial Crisis. Amid low interest rates and ample liquidity, financial investors have sought higher returns from illiquid CRE assets. The search for yield has been particularly evident among investors from outside the Asia-Pacific region, who are almost exclusively portfolio investors and may constitute the marginal investor base. In response to the Covid-19 shock, these investors have withdrawn from certain Asia-Pacific CRE sectors, and some have flocked to regional property markets perceived to be safe. Authorities have introduced various policies to mitigate the effect of the pandemic on CRE markets