Global capital flows into commercial real estate will drop by 40 per cent this year as investors wait for the price correction to run its course in most markets of the world, according to a projection by Tony M Horrell, International Director and Chief Executive of the European Capital Markets Group at Jones Lang LaSalle, the global real estate services firm.
From about $378 billion (Dh1.47 trillion) overall global flows into commercial property last year, Horrell said: "It wouldn't surprise me if this year we were $200bn or so".
About €50bn of dry powder is waiting on the sidelines for investment into commercial property once re-pricing in key markets is complete, he told Emirates Business in an interview.
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