Australian property funds in 'massive shift' to Europe

Australian property funds shifted their investment focus to Europe in 2006 by investing EUR 4.5 bn in the region - a 350% increase on the year before. Germany (EUR 2.6 bn) and the UK (EUR 1.2 bn) attracted the majority of the Australian investment, according to property advisor Jones Lang LaSalle (JLL). Other European countries targeted by the funds include the Netherlands, Poland, Belgium and Spain.

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