The report, 'Emerging Trends in Real Estate Europe' revealed that Irish and UK buyers score top marks in Europe for total real estate returns, and it seems that Irish buyers are not afraid of taking a few risks either when it comes to investing in property.

Key "ndings in the report showed that the top city returns are Paris, London, Helsinki, Madrid and Barcelona, with Dublin coming in seventh place, having a total risk adjusted return of 5.83%.

On the development front, top ranked cities included Istanbul and Moscow, both fast-growing cities with a shortage of modern highquality assets. Elsewhere, the best sectors to invest in seemed to be retail parks and shopping centres, but investors were warned to be careful in some markets. Next best sector was hotels, because of an increase in European leisure travel.

"Even speculative development is making a comeback, " says Tim O'Rahilly, director of Real Estate, Price Waterhouse Coopers Ireland.

"A signi"cant number of investors are looking to team up with developers to get product for their portfolios, and a huge array of investors are interested in gaining exposure to new areas such as nursing homes, retirement communities, student housing, self-storage, car parking facilities, spas, entertainment complexes, airports and other infrastructure assets."