Today we live in a much smaller world …a true global village… please read an update regarding the Global Commercial Property Recovery that is well underway.
Latin America and Asia are leading the recovery in the Global Commercial Property Market with Peru, sales Brazil and Singapore providing the best upswing according to a new report.
Commercial Property Transactions rose across the majority of the globe as generally low interest rates and relatively high yields are an attractive prospect for investors, health says the Global Commercial Property Survey for the first quarter of 2010 from the Royal Institution of Chartered Surveyors.
Transactions rebounded in the USA for the first time in three years with the net balance of surveyors reporting a rise in transactions moving from a negative 22% to a positive 13%.
The increased level of transactions is providing support for a recovery in capital values. In Brazil, pharmacy the net balance of surveyors reported a rise in capital values in the first quarter of 2010.
Significantly, the recovery has started to move into some parts of Eastern Europe with the net balance of surveyors reporting on capital values turning positive in Russia, Poland and the Czech Republic.
Surveyors are confident, however that the emerging economies, particularly in Latin America and Asia will continue to lead the Commercial Property Recovery into the second quarter of 2010 with sentiment towards capital values string in Hong Kong, Peru and Brazil.
New Developments starts are rising in Peru, Brazil and Chile.
The Australian Commercial Property Market is also experiencing an upswing, while rents rose in China for the first time in 18 months.
Significantly there has also been a rebound in the US market with cheap property starting to attract investors for the first time in three years said RICS chief economist Simon Rubinsohn.
However, one challenge still to be overcome in much of the developed world is the overhang of public sector debt. This could have consequences for the ongoing strength of the investment recovery…and the potential for higher borrowing costs.
Onward & Upward…Enjoy The Day!