12 Apr '11, 10pm
Global direct commercial real estate investment volume up 38% from Q1 of last year. #cre
Global direct commercial real estate investment volumes totalled just under US$90 billion (S$113 billion) in the first quarter of the year, according to Jones Lang LaSalle's Capital Markets Research. The amount was down 20 per cent from the previous quarter but up nearly 38 per cent from the first quarter of last year, the report said. Mr Paul Guest, Jones Lang LaSalle's Global Capital Markets research director, said: "We expect a further US$290 billion to US$310 billion in direct commercial real estate transaction volumes in the remainder of this year." In the Asia-Pacific region, volumes rose both compared to the previous quarter and to the same period last year. Mr Stuart Crow, head of Asia-Pacific Capital Markets at Jones Lang LaSalle, said Japan was the most active real estate market, with a confident start to the year, before the March 11 earthquake hit.