Asian Property Investment Defies Global Downturn
Consultants Jones Lang LaSalle report that property investment in Asia reached an unprecedented $121 billion in 2007, demonstrating a substantial 27% increase compared to the preceding year. This growth is particularly notable given the global financial context.
Credit Crunch Impacts Global Markets, But Asia Remains Strong
While the credit crunch significantly impacted Europe and North America during the latter half of 2007, causing an 8% decrease in global transaction value compared to the same period in 2006, investment in Asia experienced a surge, growing by an impressive 22% in the final six months of the respective year. This demonstrates the resilience and ongoing attractiveness of the Asian real estate landscape.
Global Transaction Volumes Decline in Early 2008
Data provided by Jones Lang LaSalle reveals a significant trend in global transaction volumes for the first five months of 2008. These volumes were 40% lower than those observed during the corresponding period in 2007. The firm attributes this decline to diminished activity within the European and United States real estate markets, highlighting the ripple effects of financial instability across international borders.