ABSTRACT
This chapter provides estimates of net investment in property by the financial institutions and other investors. It deals with the compilation of series for annual net direct investment in property by various categories of financial institution for the years 1923–1937 and 1946–1993. The chapter provides estimates of the relative importance of financial institutions and various other classes of property investor from the mid-1940s to the 1960s, together with a discussion of the growing participation of non-institutional investors in the property market since 1980. Pension fund property investment experienced slower growth than insurance company investment prior to 1961. The level of investment by the traditional institutions declined, both in absolute terms and relative to overall property investment, during the period covered in the tables. One of the most important variables in the analysis of the institutional property investment market is the magnitude of the flow of institutional, and other, funds to the sector.
