Jones Lang LaSalle’s Global Market Perspective for the year 2010 projected 25 to 35 percent growth in sales volumes. This is in relation to the International direct commercial property sales volumes to over $350 billion for the year 2011. The figures could make 2011 the best year since 2008.
On Wednesday, Jones Lang LaSalle said that the 25 percent to 35 percent growth is the highest in two years—in 2008, and the nation’s GDP rose to 40 percent.
According to the report, the office industry will see solid developments in 2011 in terms of sales volumes, as the supply for prime commercial property opportunities runs low.
There is approximately $250 billion worth of equity earmarked for United States real estate market, and investors are eager to choose core office properties in gateway cities like Houston, Dallas, Seattle, and Chicago.
A press release from Jones Lang LaSalle stated that the firm is likely to see an accelerated liquidation activity pace, development in ‘big ticket’ disposals, and a decline in terms of the amount of time delinquent loans are permitted to brood.
In Europe, sales volumes are expected to soar up to 30 percent, which is about 130 billion euros or $173.7 billion.
Sales volumes in Asia Pacific are also expected to increase by 15 percent, which is about $88 billion for investors will focus on Japan and Sydney, Australia.
There is also an increase in distressed real estate sales volumes as lenders and banks see that the real estate market has sufficiently recovered, which could mean fair pricing, Jones Lang LaSalle said.