The real estate investment trusts, commonly called REITS, have recorded a collection record as of 2017. According to the French Association of investment companies in real estate (Spamis), which has already collected data from 79 SCPI on the 84 existing, more than 6 billion euros were collected, representing a growth of 15.2% compared to the previous year, which had already been exceptional.
If the amounts are significant, they, however, mask disparities. In fact, the SCPI traditional, which invest either in offices or in shops, have recorded a collection slightly less important, even if they continue to focus the majority of the demand (about € 4.2 billion).
On the other hand, the SCPI younger, diversified or specialized, have been very requested, to the image of the Savings Stone, of the Neighbouring group, which has collected 160 million euros. Among those specialized in a particular subject, Pierval Health, Euryale Asset Management, has seen its collection grow… 135 % to 165 million euros ! And this is nothing against Primovie (Primonial) that, by announcing with a bit of anticipation to the rise in the price of the shares of its REIT, has created a call to air, allowing him to lift 808 million euros.
These amounts are all the more significant that the capitalization of the REIT is worth more than 46 billion euros (up 18.1 % year on year). These companies will henceforth be required to manage this mass of liquidity in order to invest in new real estate assets. For those who do not settle in the French territory, the exercise remains, however, perfectly feasible since the european market of the real estate business was valued at € 230 billion in 2016.
If the enthusiasm of individuals increases each year, it is because of the compensation offered by the REITS, but also of the erosion, year after year,…