An annual survey of European investors’ intentions by PwC has found that investors are increasingly concerned that a property market bubble might be forming. Sovereign wealth funds, pension funds and Asian insurers were behind the record volumes of cash into global real estate assets, the report found. Investors now consider core assets in cities such as London, Paris and Milan to be overpriced. Simon Hardwick, a partner at PwC and one of the report’s authors, said the European property market was “awash with capital” and there was “increasing concern about the resulting risks” as investors turned to riskier markets in search of yields.