International investment in commercial real estate is dominated by Asian interests in both Canada and the U.S., according to a new survey from the Richard J. Rosenthal Center for Real Estate Studies at REALTOR® University and the NATIONAL ASSOCIATION OF REALTORS®.
The survey found that 47 percent of Canadian respondents and 41 percent of those in the U.S. indicated that their international clients were from Asian countries.
According to the survey, 45 percent of REALTORS® who practice commercial real estate in Canada noted an increase in international clients. Similarly in the U.S., more than a third of responders, 36 percent, observed an increase in international investment.
“Commercial real estate has become a global industry, and REALTORS® from across the U.S. and Canada now regularly serve clients from all over the world,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “This survey proves the fact that while all real estate is local, not all investors are local.”
The survey was done in collaboration with the Canadian Real Estate Association and with assistance from the CCIM Institute and Institute of Real Estate Managers. Nearly 3,000 REALTORS® answered questions about their international commercial clients and the perceived changes they see in the demand for and utilization of office space.