Investors chasing property outside US at record pace

[SEATTLE] Investors are putting money into real estate companies outside the US at a record pace as interest rates recede, economies expand and opportunities remain to buy assets at discounts amid lingering distress from the global financial crisis.

The SPDR Dow Jones International Real Estate Exchange-Traded Fund, the largest ETF for non-US real estate, attracted net inflows of US$304 million in August, the most of any property ETF, driving its shares outstanding - a proxy for demand - to a record, according to data compiled by Bloomberg.

Last month's surge catapulted property ahead of energy for the first time in industry fund…