Dr. Richard Barkham, group research director at Grosvenor, is author of a book titled RealEstate and Globalisation. RichardFleming, editor of The InstitutionalReal Estate Letter – Europe, recently spoke with Dr. Barkham about the reasoning behind his new book, how and why investors should consider real estate investment in the wider context, and the role of real estate in the investment world at the moment.

What was the impetus for the book? Why the emphasis on globalization?

There were two reasons. Since 1992, the world has been through a sustained period of globalization. By this, I mean that many more countries have opened up to the global trading system, global production has become more integrated, capital flows have become ever more cross-border, and culture is ever more homogeneous. The fall of communism and the opening up of Central and Eastern Europe led