There has been a gradual improvement in the performance of commercial real estate markets around the world, the latest research from CB Richard Ellis (CBRE) has revealed. Its Global Capital Value Index saw an average rise of 15.2 per cent during the second quarter of the year, compared to the same period in 2010, led by assets in the Asia-Pacific region.
Capital values in this part of the world rose year-on-year by 24.2 per cent, while the Americas index posted a 12.7 per cent increase in the same period. Europe, the Middle East and Africa saw the slowest growth during the second quarter, with values up by 8.6 per cent compared to 2010. CBRE global chief economist Dr Raymond Torto commented: "Investor preference gravitated toward prime markets and core assets during the second quarter, fuelling value growth in the CBRE Office Value Index."
Earlier this month, the firm published its Global Office Rent Index, which also experienced overall growth driven by Asia-Pacific markets. The region saw rental values jump by 13.4 per cent during the second quarter of 2011, compared to a year earlier, while the worldwide increase stood at 7.4 per cent for the same period.
- Friday 26 August 2011