“There are perhaps six or seven markets in Asia that are even better, depending on what criteria you choose, but we must find markets that we can handle practically” says Karsten Kallevig to Wall Street Journal.

The Norwegian Oljefonden has the ambition to increase their allocation towards the property segment to five percent of the portfolio value. During 2014 it increased from 1 to 2.2 percent.

So far, the investments have occurred in a handfull of European cities, as well as four American.