Commercial Real Estate Booms Worldwide
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NEW YORK – Feb. 12, 2007 – Worldwide investment in commercial real estate rose by 33 percent last year to a record $645 billion, according to Cushman & Wakefield Inc., a real estate adviser and research company.
About $256 billion, or almost 40 percent of all commercial real estate deals last year, were transactions in North America. That compares with $295 billion, or almost 46 percent, in Europe; and $94 billion, or almost 15 percent, in Asia.
Foreign investment in European and Asian commercial real estate continues to grow. Non-domestic investors account for 48 percent of European real estate deals last year, up from 40 percent the previous year. Foreign investment in Asia increased to 32 percent last year from 28 percent.
In the United States, foreign investment has declined to 5.4 percent, down from 10.2 percent the previous year, primarily because of the decline in the value of the dollar.
Source: The Wall Street Journal Asia, Sara Seddon Kilbinger (02/07/07)
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NEW YORK – Feb. 12, 2007 – Worldwide investment in commercial real estate rose by 33 percent last year to a record $645 billion, according to Cushman & Wakefield Inc., a real estate adviser and research company.
About $256 billion, or almost 40 percent of all commercial real estate deals last year, were transactions in North America. That compares with $295 billion, or almost 46 percent, in Europe; and $94 billion, or almost 15 percent, in Asia.
Foreign investment in European and Asian commercial real estate continues to grow. Non-domestic investors account for 48 percent of European real estate deals last year, up from 40 percent the previous year. Foreign investment in Asia increased to 32 percent last year from 28 percent.
In the United States, foreign investment has declined to 5.4 percent, down from 10.2 percent the previous year, primarily because of the decline in the value of the dollar.
Source: The Wall Street Journal Asia, Sara Seddon Kilbinger (02/07/07)
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