prices in the US have enjoyed their biggest growth in over a decade of records, new data has found.
According to Moody's Investor Service, on average the asset class rose in value by 4.3 per cent rise in September compared to the previous month. However, the consultant added that its price index still remains 43 per cent below its October 2007 peak, Bloomberg reported.
The news comes as Jones Lang LaSalle forecast that direct investment into global commercial property
is likely to grow by between 25 and 35 per cent in 2011. The forecast will see the total level of transactions around the world reach in excess of USD350 billion.
"Each of the summer months this year recorded declines in the three per cent to four per cent range, followed by this month's sizeable uptick," Nick Levidy, a Moody’s managing director, was cited as saying. "The relatively large swings seen in the index recently are due in part to the uncertain macroeconomic environment and the effects of a thin market with low transaction volumes."
- Thursday 25 November 2010