The property... Build forecasts for 2009! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine

The property... Build forecasts for 2009! - News about real estate, Kiev, Kyiv region. Real Estate In UkraineAccording to international consultancy CB Richard Ellis, investment in commercial real estate...Commercial real estate: predictions 2009According to international consultancy CB Richard Ellis, investment in commercial real estate in Europe in the fourth quarter of 2008 decreased compared to the previous quarter by 29% to ?19.5 billion.For the full year, investment in commercial real estate Europe fell by 53% to 116 billion euros, the lowest figure for the last four years. According to analysts, in 2009 total investment in this segment of the real estate market in Europe will remain at the level of 110-120 billion euros.According to the international consulting company Jones Lang LaSalle, the volume of transactions with commercial real estate in continental Europe in the fourth quarter of 2008 decreased compared to the previous quarter by almost half, from ?2.9 to ?1.5 billion. In General over the past year, investment activity in this segment of the commercial real estate market in the region declined by 56% in comparison with 2007, amounting to ?12.4 billion.As emphasized by the head of research of the market of trading real estate Agency Jones Lang LaSalle Jeremy eddy, investors are sitting on the fence because of the lack of funds for investment, high prices, and the expectation that these rates will decrease. The expert predicts that this trend will continue until mid 2009.According to international consulting firms Cushman & Wakefield, according to which the volume of investment in commercial property in France in 2008 was about ?13 billion – compared to ?28,5 billion in 2007. These volumes last year fell below the average for the last ten years, which amounted to ?14.4 billion.Similar news is coming from overseas, from the United States of America. According to CEO of Alpine Woods Capital Investors LLC Sam Lieber, commercial real estate has entered the worst since the previous collapse of this market (1991-1992). Recovery is not expected until 2011.Chief economist at investment firm Grubb & Ellis Robert Bach declares that in the best case the market starts to rebound in the second half of 2009. However, Sam Lieber predicts that the unemployment rate in the U.S. will reach 8.5–9% by the end of the year, and this would adversely affect the demand for commercial real estate in the country. In his opinion, in the next two years prices will fall by 10-25% depending on location and market sector. Robert Bach believes that with the least losses will survive the recession segment of the industrial estate and the objects of the medical infrastructure, but the offices, hotels and shopping centers will be in a big disadvantage.According to Avison Young, one of the leading real estate agencies Northern neighbor to the USA and Canada, in 2009 there will be an increase in the number of unoccupied office space in the country. In Vancouver, the percentage of vacant space will increase from 5% last year to 6.5% this year. In Toronto, this figure will rise from 4.3% to 7%, and in calgary – from 3.4% to 4.6%. In the last two cities is expected to put additional volumes of office space, resulting in excess supply and have a negative impact on the market.In the whole country, the level of vacant space will grow from 5.2% to 6.5% expected by analysts. Improvement can be observed in the second half of 2009.Returning to Europe, we can provide a forecast of the consulting company Jones Lang LaSalle regarding office properties in major German cities – Berlin, Frankfurt, Munich, Hamburg, Stuttgart and Dusseldorf. The company's specialists believe that the cost of rent in this segment will decline in 2009 by 6%. These data confirm analysts at investment Bank JPMorgan, indicating that rents in the financial capital of Germany – Frankfurt – will fall by 8% this year and 9% by 2010.The level of unoccupied office space in six major cities of the country will grow this year from 8.9 to 10%, while in Frankfurt, he is expected to be 17.4 per cent.Not the best things on the commercial real estate market of the Netherlands. According to Director General of the Agency, DTZ Zadelhoff Cuno van Steenhoven, falling prices for commercial real estate in 2009 could range from 12% to 22% compared to the peak in 2008.The major decline, according to the forecast of the expert, will be in the segment of office and retail space.



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