Preliminary global direct commercial property investment volumes have recorded a strong recovery in Q2 from last year.
Jones Lang LaSalle claimed that commercial real estate investment volumes achieved US$66 billion in the second quarter, which nearly doubled the 2009 level.
According to Jones Lang LaSalle, the Asia Pacific region recorded over US$15 billion in investment volumes in Q2, an increase of 21 percent on-year. However, when compared with the previous quarter, Q2 volumes dropped 34 percent in the region.
Increases were recorded in Taiwan and Hong Kong, with falls registered in China, Australia and Japan.
Stuart Crow, head of the firm’s Asia Capital Markets Group, said if the trend continues, aggregate volumes from the region could achieve the mid US$80-billon range this year.
The company explained that it is currently taking to market retail and large office assets in Melbourne, Vietnam, Singapore, Brisbane, Hong Kong and Tokyo through structured public campaigns. It added that in nearly all cases, the pricing and the number of bidders has exceeded expectations, which signify strong market fundamentals.