Property investment grows globally

Monday, October 17, 2011

Property investment grows globally

Despite the global economic crisis, investment in property is still continuing to hold up well, according to the latest figures from financial and professional services firm, Jones Lang LaSalle.

The number of property transactions across the world is up 36% in the third quarter of 2011 compared with the same period in 2010.

In the first nine months of 2011, investment activity increased by 43% with total transaction volumes amounting to US$297 billion, compared to US$208 billion in the same period last year.

The UK, the largest market in Europe, saw a marked rise in the number of people purchasing property in the third quarter 2011. And Germany, France, Spain, Scandinavia, Poland and Russia all continue to attract strong investor interest, due to being seen as 'safe havens' - having relatively strong economies and minimal debt.

Even the Americas, which have seen a recent slowdown in property investors, has reached $38 billion worth of investments, up 60% on the same period last year.

Arthur de Haast, head of the International Capital Group at Jones Lang LaSalle, said that worldwide property investment remained 'relatively strong' especially in 'safe' markets.

“Investors are taking refuge in core, well-let product in specific markets,” he said. However he also warned that the figures should not be taken as a sign of recovery: “The market remains very much sentiment-driven and the mood is cautious.”

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A Place In The Sun