Investors optimistic, more looking to buy property in 2017

New York

A MAJORITY of commercial real estate investors plan to be net buyers this year, the highest level since 2014, spurred by prospects of increased US economic growth and less regulation, a survey of investor intentions showed on Tuesday.

The percentage of investors who intend to buy property in 2017 rose to 67 per cent from 65 per cent last year and 60 per cent two years ago, according to a survey by CBRE Group Inc, the world's largest commercial real estate services firm.

"Business is going to do better in the current environment," said William Shanahan, chairman of New York capital markets at CBRE. "We're feeling this optimism has some real legs…