Global Commercial Real Estate 'On Road To Recovery'

The Jones Lang LaSalle Global Market Perspective has described global real estate markets as following "a resilient recovery path during the second quarter"...

The Jones Lang LaSalle Global Market Perspective has described global real estate markets as following "a resilient recovery path during the second quarter". According to the firm, there have been a number of positive developments in the three months from April to June, notably rising prime rents, steady leasing volumes and a reduction in oversupply.

Jeremy Kelly, a member of the organisation's research team, noted that there have been concerns weighing on investor sentiment of late, but anticipates that this will be temporary, with an improvement expected before the end of this year. The study found that Russia is one of the major success stories, with capital values in Moscow growing, while "investment volumes are at record levels".

Although Beijing is expected to see the strongest increase in rental values of between 35 and 45 per cent, Moscow is not far behind - along with Jakarta - with a predicted 30 to 40 per cent boost by the end of the year. Last month, the Royal Institute of Chartered Surveyors Global Commercial Property Survey for the second quarter of 2011 singled out Russia as one of the nations to see a sharp rise in the number of new development starts, along with Brazil, Malaysia and Poland.
 

- Friday 05 August 2011

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