Global Q2 comm. property sales double to $66 bln-JLL

* Global comm. property sales seen hitting $300 bln in 2010

* APAC region sees qtr-on-qtr drop, EMEA and Americas up

LONDON, July 15 (BestGrowthStock) – Global commercial real estate
investment sales hit $66 billion in the second quarter of 2010,
double the amount a year ago and similar to the first quarter as
the market continues to recover, data showed on Thursday.

Global real estate advisor Jones Lang LaSalle (JLL.N: ) said
in a report that sales in the first half was $130 billion. It
forecasts total volumes to reach about $300 billion for 2010,
for a 50 percent improvement on 2009.

“This is still less than half the pre-credit crisis levels
of 2006 and 2007, but we must take into account the fact that
those were heady years for commercial real estate investment,
with unprecedented record trading volumes,” Arthur de Haast,
head of JLL’s International Capital Group (ICG), said.

Significant regional differences in sales emerged in the
second quarter, with Asia Pacific posting a 34 percent drop to
$15 billion, from the first quarter. Notable falls were seen in
Japan, China and Australia, although Hong Kong and Taiwan
continued to rise.

The fall coincided with tightening measures by some
governments to cool down their overheated property markets
earlier this year [ID:nTOE62P08P], although Asia Pacific’s
second-quarter sales was still up 21 percent from the same
period last year.

In the Europe, Middle East and Africa (EMEA) region,
second-quarter sales rose 15 percent from the first quarter to
23 billion euros ($29 billion), with the UK accounting for more
than 40 percent of the region’s total volumes, JLL said.

London maintained its position as the world’s most active
city, with investment sales hitting nearly $5 billion, it added.

In the Americas, volumes saw a sharp uplift in the second
quarter to $21 billion, up 54 percent from the first quarter,
although this was from a low base, JLL said.

It noted quarter-on-quarter growth in Canada and Brazil
outstripped that in the United States.
(Reporting by Daryl Loo; Editing by Andrew Macdonald)
($1=.7806 Euro)
(See www.reutersrealestate.com for the global service for real
estate professionals from Reuters)

Global Q2 comm. property sales double to $66 bln-JLL