Global property investment reached a six-year high in 2013, according to Cushman & Wakefield.
The firm’s latest report reveals that US$1.18 trillion worth of transactions were completed last year, as economic recessions came to an end and confidence improved. Positive sentiment pushed sales up 22.6 per cent year-on-year to the highest total recorded since 2007.
The growth is not expected to stop any time soon, though, with Cushman & Wakefield forecasting a further increase of 13 per cent in 2014, with demand mostly driven by property in the US and Western Europe.
“The real estate market ended 2013 on a high on the back of greater confidence and rising liquidity. That momentum is building further this year with signs of a firmer occupier market as well as greater investment demand and new sources of debt set to drive investment activity and property pricing higher,” said David Hutchings, head of EMEA investment strategy.
Source: The Movechannel