{"id":1004033843,"date":"2011-11-02T11:08:15","date_gmt":"2011-11-02T19:08:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004033843"},"modified":"2022-12-07T17:41:59","modified_gmt":"2022-12-08T01:41:59","slug":"global-markets-show-positive-moves-trending-upward","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/global-markets-show-positive-moves-trending-upward\/","title":{"rendered":"Despite Hiccups, Global Markets Show Positive Moves"},"content":{"rendered":"

By Nicholas Ziegler, News Editor<\/strong><\/p>\n

In light of today\u2019s news that Greece is now calling for a referendum on the debt deal brokered just a week ago<\/a> \u2013 a fact that has sent ripples through the entire worldwide economy \u2013 it\u2019s important to keep in mind what\u2019s been happening on an international scale of late.<\/p>\n

A number of studies and reports have closely monitored the world economy from a capital perspective, and results have been mixed. But with a year that\u2019s seen an earthquake in Japan that disrupted international trade, the abovementioned Greek debt crisis and a credit downgrade for the United States, real estate investment has been surprisingly resilient.<\/p>\n

The first report, from Cushman & Wakefield Sonnenblick Goldman, was the most somber. Using data from Real Capital Analytics, the services firm found that the volume of commercial real estate investment has been on the decline in both Asia and in Europe \u2013 the latter most likely due to debt uncertainty. It also noted that sales volume, in total, has been declining domestically in the last three months. But not all is lost: Pricing for trophy properties, specifically in key markets, has been pushing back to pre-recession levels. While there has been talk that those asking prices are \u201cgetting ahead of the market,\u201d recent sales in gateway markets show that investors are still very comfortable with paying a premium for the best assets they can get.<\/p>\n

Deloitte\u2019s quarterly report, \u201cTrends in Real Estate Private Equity,\u201d was much more bullish on the domestic scene. \u201cForeign investments have helped to revive the U.S. transaction market,\u201d the firm noted, moving on to show that \u2013 according to DTZ Research \u2013 an estimated $329 billion in capital was raised \u201cto directly target global real estate in 2011, with 33.7 percent ($110 billion) of capital funneled to the Americas.\u201d<\/p>\n

And that foreign investment will likely be a key component in the recovery for U.S. commercial real estate. During 2011, foreign investment, primarily from Asia-Pacific, has focused on high-quality properties in major cities and financial districts within the United States \u2013 clearly agreeing with the consensus from Cushman. But Deloitte sees possibilities beyond those trophy properties, noting that \u201cthere are many opportunities for future investment in tertiary markets that have not been typical focus points for foreign investment.\u201d What remains to be seen, however, are the continued unforeseeable changes and uncertainties, such as the unfolding crisis in Europe, and how those circumstances may slow recovery momentum into 2012.<\/p>\n

But not all opportunities lie within the boundaries of the Americas. Simon Rubinsohn, chief economist for RICS, summarized the situation thusly: \u201cThe global real estate market flourishes when economic conditions are stable and strong,\u201d he said. \u201cConfidence has definitely taken a knock. That said, there remain key areas of resilience \u2013 China, Brazil and Russia \u2013 and we have seen positive momentum in several other countries as well, Japan most notably.\u201d<\/p>\n

His comments came on the heels of RICS\u2019 Global Commercial Property Survey, which was released today. While Deloitte found that investment dollars still exist for global real estate, RICS found that the volume of transactions have been falling. In the third quarter of 2011, a greater number of countries indicated fewer investment inquiries and development starts than in the previous quarter, and available commercial space increased for those same countries. \u201cIn addition,\u201d the report added, \u201cnegative sentiment colors the global outlook for Q4 2011 with almost two-thirds of countries reporting negative rental and capital value expectations and nearly two-fifths reporting an expected decline in investment demand.\u201d<\/p>\n

So while fearful investors may stay on the sidelines, more bold ones may jump into the fray. While it\u2019s still too early to see how the current set of crises will play out, there are positive indicators on the horizon.<\/p>\n

\u201cAlthough we doubt that the developing economies can completely insulate themselves from the challenges facing the West,\u201d Rubinsohn concluded, \u201cour suspicion is they will continue to outperform and this will be reflected in real estate markets.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite today’s news from Greece, a number of studies and reports have closely monitored the world economy from a capital perspective, and results have been mixed. But, on closer inspection, real estate investment has been surprisingly resilient.<\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004033843","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nDespite Hiccups, Global Markets Show Positive Moves - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/global-markets-show-positive-moves-trending-upward\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Despite Hiccups, Global Markets Show Positive Moves\" \/>\n<meta property=\"og:description\" content=\"Despite today's news from Greece, a number of studies and reports have closely monitored the world economy from a capital perspective, and results have been mixed. 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