Distressed Property Sales Rise Globally

  • 15 years ago
  • Uncategorized
Distressed property sales have increased in more than 75 percent of countries around the globe. The Royal Institution of Chartered Surveyors (RICS) recently carried out a survey on distressed properties in the commercial property marketplace. Of the 27 countries surveyed, more than 75 percent of respondents reported a rise in the number of properties which are coming to market under distressed conditions in the second quarter of 2009 compared to the first quarter.
 
For the second quarter of 2009, the greatest increase in distressed properties coming to market has been in South Africa, followed by the United States. New Zealand, Malaysia and Hungary came in next on the list, with The Caribbean, Ireland, Spain, Russian and Ukraine rounding out the top ten list.
 
On the other end of the scale, China and Brazil saw a decline in distressed properties coming to market when compared to the first quarter. Other countries on the list include Germany, the Czech Republic, Hong Kong, Japan, Italy and Switzerland, all of which saw little change.
 
Oliver Gilmartin, RICS senior economist said: ‘The number of distressed properties coming to market rose across every global region in the second quarter although record low interest rates may be limiting the pain for some landlords.”

Compare listings

Compare