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- Global Property Investment Markets Could Jump by 14% in 2013, Notes Cushman & Wakefield Report
Global Property Investment Markets Could Jump by 14% in 2013, Notes Cushman & Wakefield Report
Cushman & Wakefield's International Investment Atlas, which was recently released, found that the global property investment market had a modest six percent rise in activity during 2012 with volumes reaching $929 billion. In what was a difficult year in most markets, investment volumes rallied in the fourth quarter of 2012 signaling the beginning of real momentum and a return of confidence in the market, which could see volumes this year increase 14 percent to exceed the $1 trillion mark for the first time since 2007.
According to Cushman & Wakefield, the increase in activity this year will be led by North America and Asian markets and driven by increased allocations to property by institutions and high net worth individuals/families plus increased stock coming to the market.
Glenn Rufrano, global president & CEO of Cushman & Wakefield said: "2012 was a year of profound uncertainty in the global economy, which impeded decision making and market activity. We anticipate there will be less uncertainly this year and, in fact, a true change in market confidence and indeed momentum seems to have been confirmed in the early months of 2013 as major global risk factors are seen to be receding - albeit not yet disappearing."
In 2012, China and the U.S. were two key engines of the strong finish -- the former benefitting from a record high in land sales and the latter seeing a rush of activity to beat year-end capital gains tax hikes. However, growth was far from limited to these two global heavyweights and a range of other markets in all regions saw a final quarter rally notably Spain, Poland, Norway, Switzerland, Indonesia, Thailand, India and Australia, according to the report.
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