Global commercial property market remains robust | 8 August 2011
The commercial property market remains largely robust across the world and is strongest in China, according to a report by the Royal Institute of Chartered Surveyors (RICS).#
Its quarterly Global Commercial Property Survey indicates that the majority of countries are reporting positive capital value expectations.
Furthermore, new development starts have seen the highest increase in Brazil, Malaysia, Russia and Poland.
Speaking to propertywire.com, RICS’ chief economist, Simon Rubinsohn, claimed he was surprised at how well the majority of commercial property markets are holding up.
He said: “We would have expected our survey results to reflect some impact of the recent economic soft patch, but interestingly, it looks as though commercial property markets around the world remain, strong, regardless.
“China, in particular, has proven remarkably resilient in the face of the introduction of a series of measures designed to cool the market.”
A report from The Financial Times suggests that the commercial property market has remained more or less stable across the second quarter of the year, compared to the first quarter.
The report suggested that the Germany and Scandinavia were the main areas of growth in Europe; whilst the United Kingdom had experienced the highest value of property transact ions throughout the first half of the year.
Written by Jo Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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