There are a growing number of commercial real estate transactions
taking place around the world, it has been claimed. However, research firm Real Capital Analytics (RCA) added that not all regions have enjoyed similar improvements.
For example, while activity was growing in the Pacific and Americas during the third quarter of 2010, sales in Europe, the Middle East and Africa were in decline, RCA explained.
In total, the organisation said that global property sales measured USD132.3 billion over the third quarter, which was a 22 per cent increase compared to the previous year. Additionally, RCA said its data indicated that the average transaction price in 2010 had climbed from 2009.
Sales of USD31.1 billion in the region making up Europe, the Middle East and Asia represented a decline of ten per cent from the first two-quarters of the year. RCA attributed the slowdown to Europe’s sluggish economy.
"Europe's economic woes have taken a toll on investor interest, undercutting investment in the period since the onset of the sovereign debt crises," RCA said.
- Wednesday 03 November 2010