Global property buying is way up - report

This past spring, Global property purchases last have sprung to new heights, as year-on-year sales last quarter increased 47%, according to Overseas Property Professional:

Worldwide investment in all types of property surged by nearly 50% in the second quarter of 2011 year-on-year, with over $101 billion-worth of transactions completed.

Research from Jones Lang LaSalle indicates that this figure is also 7% above the first three months of 2011. The Americas led the way, with the Canadian market tripling in activity compared to the first quarter, and transaction volumes in the U.S. increasing by more than half to $49 billion for the same period. Property investment in MENA stayed similar at $34 billion whereas the Asia-Pacific region saw a fall of 30% in volumes compared to the first three months.

Arthur de Haast, head of the International Capital Group at Jones Lang LaSalle, told OPP: “The upswing in activity continues, with exceptional gains in North America, which was late to the recovery, driving that region to the top spot in terms of volumes.”