tailieunhanh - International Real Estate Investment: Digests of Research Papers from an Investor’ s Perspective

In addition to holding title to property or having the right of beneficial use through a fideicomiso, there are other ways to enjoy the use of real property in Mexico, including leasing property and participating in time shares. With regard to leasing, there are no restrictions that prevent foreign individuals or entities from leasing property in Mexico. Unlike American law, the Mexican Civil Code places limits on the duration of real property leases. Commercial and industrial leases can be no longer than 20 years in duration and residential leases are limited to a period of 10 years, or 30 years. | Prudential Real Estate Investors International Real Estate Investment Digests of Research Papers from an Investor s Perspective Youguo Liang . Robert Hess . Willard McIntosh . November 1997 973 683-1765 973 683-1689 973 683-1793 Research Table of Contents Introduction 1 The International Equity Perspective 3 Why Invest in Real Estate Internationally 4 International Real Estate Low Correlations and Diverse Return Opportunities 6 The Home Country Bias 9 Country Risk Assessment 10 Currency Hedge 13 Emerging Real Estate Markets A Case Study for China 14 Introduction International investing is not new to the investment community. It is however relatively new to the real estate community. Significant cross-border investment in real estate by institutional investors did not occur until the 1980s. The experience was not particularly pleasant for many investors because their initial foray into another country s property market coincided with downturns in most of the developed markets. . institutional investors largely avoided the emerging property markets in Asia Europe and the Americas until the 1990s because of perceived high risk and strong institutional barriers. Driven by the need to increase returns through expanded investment opportunities and a desire to diversify investors interest in international property markets is on the rise again. Armed with more information and a better understanding of the issues surrounding international investment investors will be able to make more informed decisions this round. Ê Prudential This collection of digests of research papers is intended to contribute to the learning process of investors and managers alike. Cited articles are written by both academics and practitioners and they are chosen according to relevance and readability. We will provide readers with copies of these articles if so requested most of them can be read with