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Asia-Pacific real estate deals decline 15% in Q3
By Cherry Cao |
October 26, 2012, Friday
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COMMERCIAL real estate transactions in Asia Pacific fell 15 percent in the third quarter of the year from the previous quarter as investors stayed cautious.
Despite emerging markets such as Malaysia and India performing solidly, the amount of investment fell to US$28 billion between July and September across the region with sharp declines in the core markets of Australia, Japan and Singapore, international real estate advisor DTZ said yesterday in a report.
"With a few exceptions, the region's investment markets fared worse than expected in Q3, bringing total volumes during the first three quarters of the year to their lowest level since 2009," said Kate Barrow, head of Asia Pacific Forecasting at DTZ. "In the light of recent GDP downgrades and cautious sentiment, we have lowered our forecast for total investment volumes in 2012 to US$120 billion, down 22 percent from 2011."
Japan posted the biggest quarterly drop of 48 percent in commercial real estate volumes while they fell 44 percent in Australia and Singapore's shed 30 percent, according to DTZ.
Despite emerging markets such as Malaysia and India performing solidly, the amount of investment fell to US$28 billion between July and September across the region with sharp declines in the core markets of Australia, Japan and Singapore, international real estate advisor DTZ said yesterday in a report.
"With a few exceptions, the region's investment markets fared worse than expected in Q3, bringing total volumes during the first three quarters of the year to their lowest level since 2009," said Kate Barrow, head of Asia Pacific Forecasting at DTZ. "In the light of recent GDP downgrades and cautious sentiment, we have lowered our forecast for total investment volumes in 2012 to US$120 billion, down 22 percent from 2011."
Japan posted the biggest quarterly drop of 48 percent in commercial real estate volumes while they fell 44 percent in Australia and Singapore's shed 30 percent, according to DTZ.
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