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Investing in commercial property falls
By Cherry Cao |
November 9, 2012, Friday
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Print Edition
Print Edition
DIRECT investment in commercial real estate in Asia Pacific fell 14 percent in the third quarter of this year from the previous three-month period due to weaker economic growth forecast, according to a latest industry report.
Transactions valued at US$22.4 billion were sealed in the region between July and September, compared to US$26 billion in the second quarter and US$23 billion in the same period a year earlier, international property services provider Jones Lang LaSalle said yesterday in its Global Capital Markets Research.
"While transaction activity has slowed in some markets around the region in the third quarter, we maintain our expectations for full year 2012 volumes in Asia Pacific to reach US$88 billion, compared with US$98 billion in 2011," Stuart Crow, head of Asia Pacific Capital Markets, Jones Lang LaSalle, pointed out.
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