Global property deals seen back above $1 trillion in 2013
Property consultant Cushman & Wakefield said it sees global investment volumes rising 14 percent in 2013, after increasing to $929 billion in 2012.
This would be the highest level since the year before the 2008 financial crisis when investors ploughed $1.25 trillion into property deals.
"2012 was a year of profound uncertainty in the global economy which impeded decision making and market activity," said Glenn Rufrano, chief executive of Cushman & Wakefield.
"We anticipate there will be less uncertainty this year and in fact, a true change in market confidence and indeed momentum seems to have been confirmed in the early months of 2013 as major global risk factors are seen to be receding."
Investors shunned riskier assets across the globe in favour of top quality office and retail properties in the safest neighbourhoods of New York and London against a darkening global economic outlook and the euro zone's debt crisis.
Confidence has however edged back in recent months after strong action by the European Central Bank to calm markets eased fears of a euro zone break-up and the U.S. economy showed signs of improvement.
Cushman expects the growth to be led by North America, particularly in the United States, where a greater availability of debt and demand for space from tenants could drive a 15-20 percent rise
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