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China drives up global investment-grade real estate stock
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THE value of investment-grade commercial real estate rose 4 percent around the globe to a record US$13.6 trillion in 2014, mainly powered by growth in the China-led Asia Pacific region, international real estate services provider DTZ said in a latest research.
When measured in US dollar terms, stock in Asia Pacific grew 10 percent to US$5.1 trillion last year. The growth in China, which stood at 21 percent, was so significant that when excluded, Asia Pacific just registered an annual growth of 1 percent, according to DTZ's latest Money into Property report.
In North America, invested stock gained 5 percent to US$4.2 trillion, closing its gap with Europe whose stock stood still at US$4.4 trillion. In euro terms, however, European stock increased 2 percent, the report said.
Global investment volumes, meanwhile, rose 20 percent from 2013 to US$633 billion last year, with growth being observed in all three regions, led by Europe's 32 percent annual gain.
"With record levels of new capital targeting commercial real estate, global investment activity is set to reach US$771 billion this year, just short of the US$791 billion record in 2007," said Nigel Almond, head of capital markets research at DTZ. "We see the appetite for investment continuing into 2016 as real estate still looks attractive compared to other assets in the current low interest rate environment."
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