Property consultants Cushman & Wakefield has predicted that the volume of global commercial real estate deals is forecast to will rebound 30 per cent to total $478 billion (318 billion pounds) this year, led by surging investments in China and a revival in the United States. They said this in a report on Wednesday (3 March 2010).
After the steep downturn in 2009 when global volumes fell 23 per cent to $365 billion, the lowest since 2003, but are still well below the 2007 peak of more than $1 trillion, investment sales are now on the rise.
The United States is forecast to post the biggest per centage rise in sales in 2010 as it, being the world’s largest commercial property market, pulls out of recession, boosting volumes in North America by 48 per cent to $64 billion, Cushman said.
“With many (US) investors sitting on a lot of cash after the recapitalisations, equity raises and inward investment flows of last year, a strong turnaround in activity looks likely ... if the economy stays on track, it wouldn’t be surprising to see our forecast beaten,” Janice Stanton, Cushman’s senior managing director of capital markets in the US, said.
In China, volumes more than doubled to $156 billion in 2009, making it the world’s most active real estate investment market by far. It is expected to continue growing this year, despite government measures to cool the sector down, Cushman said.
Sales growth in China and Japan is expected to boost volumes in the Asia-Pacific region to $258.3 billion in 2010, up 20 per cent from last year, making it the most active region for real estate investments.
The EMEA region is also forecast to see a strong rise this year, with volumes rising 43 per cent to $151.9 billion, led by the continuing recovery in the UK, which is spreading westwards to other core markets such as France and Germany, Cushman said.
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