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The commercial property market has seen an increase in global investment over the last 6 months. With over $318bn (£203bn) invested already, an increase of 15% of the equivalent period last year. The global increase hides the difference in volume across global regions. Europe and North America are enjoying a steady increase in investment, with key markets such as London, Paris, New York and San Francisco enjoying high levels of investment in respective office markets. The last year has seen European investment volumes rise to $274bn, an increase of 23%, whilst North American volumes have reached $311bn, an increase of 18% compared with last year. However, Asian markets, which over the last few years have boomed, have seen a decline, with a total volume of $90bn, 7% lower compared to this time last year.
Oliver Salter, surveyor at London based acquisition specialist Morgan Pryce, believes all global markets are showing great strength, especially through the Asia Pacific financial crisis,
“Europe and North America have seen huge growth on investment levels in comparison to this time last year. London is still a huge attraction to foreign investors, who are cash rich and ready to acquire prime real estate, whether it be for tax, diversification or aesthetic reasons. The Asia Pacific region has seen a slight decrease on volumes compared to last year, however this is in light of geo-political and financial factors – Chinese capital is still one of the most active across all regions.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.