Buy, sell or bubble: Real estate execs weigh in

NEW YORK (Reuters) - Real estate executives and investors from around the world met with Reuters reporters and editors this week at the Reuters Global Real Estate Summit, held in New York, London, Moscow, Dubai and Singapore.

While the guests had different specialties and regional concerns, we decided it would be interesting to ask all of them what they like, what they don't like, where they'd spend their own money, and where they see the next bubble.

Some of their best comments can be found below:

CHUCK LEITNER, GLOBAL HEAD OF RREEF, DEUTSCHE BANK'S (DBKGn.DE: Quote, Profile, Research, Stock Buzz) ALTERNATIVE INVESTMENTS ARM

What to buy: "I actually like Japan, I like Tokyo in the short-run. I like Japan in the short-term. The fundamentals are pretty solid and that's one of those market where very little has been built."

"So even though it's not a growth market, the fundamentals are pretty attractive ... I'm a bit biased, but I do like New York, but probably not in the next six months."

What to avoid: "In the short-run, I think you have got to be careful about China, so again if I had to do it right now, I might take a more of a wait-and-see attitude toward markets in China. A lot of the pricing is based on explosive growth."

STEPHEN HESTER, BRITISH LAND (BLND.L: Quote, Profile, Research, Stock Buzz) CEO

Like to buy: "As a factual matter, all the money I have invested in real estate is in British Land and British Land-related things. And I believe that our share price is cheap from a value perspective. And I haven't sold any shares and I have no plans to sell any shares."

Avoid: "I would be worried about ... areas where the risk premia is yet to correct, where the compression of risk premia of the last few years is yet to correct. And those tend to be the more exciting areas of the world, where you still have the excitement of possible economic growth."

HAMID MOGHADAM, AMB PROPERTY (AMB.N: Quote, Profile, Research, Stock Buzz) CEO AND CHAIRMAN

Next bubble: "I think India has a good shot of being there. India is a low-cost location generally and a relatively underdeveloped economy that's growing rapidly. But the price of real estate is very high. High-end office space is the same price as New York, or maybe even London."

ROBERT HOUSTON, MEMBER OF ING REAL ESTATE'S GLOBAL

INVESTMENT BOARD

Like to buy: "I'd put (my money) in UK property ... because I think it's going to bounce back, and I would be very happy with the return that I will get out of it. I'm pretty sure I can make a lot of money."

Avoid: "Well, I wouldn't buy an apartment in Florida. There are so many nicer places to have an apartment rather than Florida. I have one in Majorca and it's lovely. And I'm sure the value has gone down, but it is easy to get to."  Continued...