Jones Lang LaSalle has released preliminary new figures which suggest that global commercial real estate
volumes surged to USD 90 billion in the first quarter of 2011 - up 38 per cent compared to the previous year.
However, despite the yearly increase, the consultancy added that the figure is actually down by 20 per cent from the previous quarter.
"Investors are only moving into riskier markets and products on a selective basis, with many waiting to see more bank-released product or stronger fundamentals first," Arthur de Haast, head of the international Capital Group at Jones Lang LaSalle said.
The consultancy noted that volumes in Asia Pacific rose compared to the previous quarter and to the same period in 2010. Japan was the most active real estate market, with a confident start to the year prior to the recent earthquake tragedy, Jones Lang LaSalle said.
Elsewhere, in Europe and the Middle East, activity slowed compared to the last three months of 2010, but was up nearly a quarter year-on-year. Likewise investment activity in the Americas dropped quarter-on-quarter, but almost doubled compared to 2010 figures.
- Friday 15 April 2011