US property dominance 'under threat'

The investment firm says growth is likely to be faster in Europe and Asia and will gradually reduce the dominance of the US in the market. According to Fidelity, demand has been fuelled by the introduction of REITs in a number of countries such as the UK and Germany and points out a further 10 countries are either about to convert or are discussing the possibility. Polly Kwan, manager of the Fidelity Asia Property fund, says Asia should be a particular target for investors. “I currently favour Japan,” says Kwan. “After 15 years of market downturn there are signs of recovery in the pro...