The level of real estate transactions picked up during the third quarter in Asia,
new figures show. Direct investment excluding land transactions in the region grew by 53 per cent compared to the previous quarter suggesting that confidence is returning to buyers.
This is the finding of the CB Richard Ellis Asia Investment Marketview Q3 2010 which said that the total invested over the three-month period was USD 18 billion.
For the first three quarters of the year the overall transaction volume now stands at USD 46 billion - up 102 per cent on one year previous - CBRE said. And the consultant added that it believes that the total investment volume in the region could reach the USD 60 billion mark by the end of the year.
The report said that most markets in the region regained momentum after short period of uncertainty due to the eurozone debt crisis. The large quarter-on-quarter increase was also attributable to the strengthening of Asian currencies against the dollar as well.
Indeed, CBRE forecast that this strengthening of Asian currencies against the dollar combined with a new round of quantitative easing measures in the US would lead to investment funds increasing their stakes in Asian property.
- Thursday 16 December 2010