Global commercial real estate volumes were 8% down in Q3 compared with the same period in 2011, according to Jones Lang La Salle.
The firm’s capital markets research found that “robust” activity in the major markets was offset by weaker performance in the smaller and emerging markets. Year-to-date volume in the Americas ($126bn) remained static, while Asia and Pacific saw a $4bn decrease to $68bn and EMEA volume dropped by €10bn to €75bn.
Sectors such as residential and student accommodation were attracting more interest from global investors seeking to diversify.
Total global transactions fell in Q3 compared with Q2 this year from $106bn to $96bn, but JLL said the full 2012 forecast remained at $400bn with a busy Q4 predicted across all the regions.
“The fourth quarter is historically the busiest quarter of the year and that will be no different this year for real estate transactions,” said Arthur de Haast, head of the International Capital Group at JLL. “Looking further, we expect volumes to increase in 2013 and one trend to watch is the continued activity in alternative sectors.”
