Preliminary data from Jones Lang Lasalle (JLL) shows that global real estate transaction volumes in Q2 remained unchanged year-on-year, despite Greece’s debt crisis and difficulties in the Chinese equity markets.
Transaction volumes increased by 30 per cent in the US and by 11 per cent in the EMEA region. Southern Europe saw an impressive 47 per cent rate of growth over the first six months, while transactions in the UK, Germany and France were all up 15 per cent during the same period.
In the Nordic region investment activity rose by 38 per cent while Russia reported the strongest level of activity seen in five quarters.
And the recent decline in interest rates worldwide is expected to support transaction activity for the rest of the year, according to David Green-Morgan, a global capital markets research director at JLL. In the Asia Pacific region, however, reduced activity in Australia and Japan, dragged volumes down.
Overall the data appears to indicate that, rather than acting as a damper on investment as some analysts feared, the uncertainty over Greece’s future has made little impact on the global real estate market,which continues to benefit from low financing rates and the possibility of healthy yields.
Previous Post
Selfridges swoops on Wigmore Street Property
