Global property investment expected to pick up in 2014: consultancy
Property investments around the world are picking up momentum and could rise 10 to 15 per cent next year, according to new forecasts by a property consultancy.
This would bring global property investments above US$1 trillion for the first time in seven years, predicted Cushman & Wakefield.
For this year, investment sales of property totalled US$978 billion, an estimated increase of 8.4 per cent from the year before, the consultancy said.
"The growing level of optimism and activity we are seeing in most regions has its roots in a belief that the global economy is set for calmer waters ahead and that financial imbalances are on the mend," said Mr David Hutchings, Cushman & Wakefield's head of Europe, Middle East and Africa research.