Global real estate market 'affected by softening economy'
02/11/2011
Topic: Investments
A new report has warned that the global real estate market is beginning to feel the effects of the softening economy, which could concern those with investments in this sector.
The Royal Institute of Chartered Surveyors (RICS) has warned that agents reported fewer investment enquiries and development starts during the third quarter.
It also found that global sentiment is less upbeat for the final quarter of 2011, where the UK remains at the bottom in terms of negativity among the peripheral European countries.
According to the study, the outlook for the real estate market is currently strongest in China, Brazil and Russia.
Simon Rubinsohn, chief economist at RICS, said that while this news is not heartening it does reflect the softer global macro-economic picture.
Recent figures published by the Office for National Statistics have shown that the country's gross domestic product has risen by 0.5 per cent during the third quarter.
Posted by Liam Tomlinson
The Royal Institute of Chartered Surveyors (RICS) has warned that agents reported fewer investment enquiries and development starts during the third quarter.
It also found that global sentiment is less upbeat for the final quarter of 2011, where the UK remains at the bottom in terms of negativity among the peripheral European countries.
According to the study, the outlook for the real estate market is currently strongest in China, Brazil and Russia.
Simon Rubinsohn, chief economist at RICS, said that while this news is not heartening it does reflect the softer global macro-economic picture.
Recent figures published by the Office for National Statistics have shown that the country's gross domestic product has risen by 0.5 per cent during the third quarter.
Posted by Liam Tomlinson
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