The property sector shows optimism
Posted by admin on March 18th, 2010Meeting this week in Cannes to show the real estate professionals around the world were rather optimistic, anticipating economic recovery, after having faced the most serious crisis the industry since the mid 90s.
The total investment in real estate business in 56 major countries is expected to jump 30% to 478 billion dollars (362 billion euros) this year compared to 2009, low point of the crisis, after a dive 23% in one year, according to a study by Cushman & Wakefield Council. Including a forecast bolstered by the outcome of the Director General of the International Monetary Fund, Dominique Strauss-Kahn, who said Wednesday that global economic recovery was "better than expected, with 4% projected growth this year after a recession in 2009.
But "if the economies of Europe, Middle East and Africa emerging from recession, economic recovery will not be uniform in these regions, warns a study by Jones Lang LaSalle board. However, with the hope of restarting the economy, coupled with the attitude of banks willing to finance new projects demonstrating good profitability, the construction sector seems to go back online payday advance !!!???!! !???!!!.
A tower of 37 floors of Defense
The French bank Societe Generale has thus acquired the rights to build a tower of 180 meters and 37 floors in La Defense, the largest European business district, located in the northwestern suburbs of Paris."This is a strong indicator of release of the housing crisis", said to AFP Philippe Chaix, Director General of EPAD, public planning of Defense.
The same optimism prevails as well in Montreal, on the North American continent, to Barcelona in Spain, yet one of the countries most affected by the crisis although it was most struck residential property.
The 21st International Market Professionals Real Estate (MIPIM) in Cannes hosted 18,000 participants (exhibitors and visitors), from 78 countries, the same number as in 2009 but down 36% compared to 2008, according Nadine Castagna, Director of MIPIM. To confirm whether the recovery is quite the appointment in 2010, professionals will meet from November 10 to 12 at MIPIM Asia in Hong Kong.
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