CBRE, Febrero 09
Global ViewPoint 4Q 2008
A partir de la desarticulación sub-prime en Estados Unidos a mediados del 2007, las condiciones del mercado se han deteriorado hasta llegar a una severa crisis global, la cual efectivamente apagó la economía en el último trimestre de 2008. Ninguna parte del mundo ha escapado a la propagación de la crisis. El informe Global ViewPoint de CBRE para el cuarto trimestre 2008 reporta sobre el estado global de los mercados inmobiliarios comerciales. (Artículo en Inglés)
- In EMEA, leasing activity has weakened in the major markets. Vacancy is generally drifting up, while prime rent declines were evident in London, Madrid, Frankfurt, Paris and some of the Scandinavian markets.
- Throughout Asia, prime office leasing activity slowed dramatically during the fourth quarter, and some buildings in major regional centers encountered difficulty filling vacant space. In the Pacific region, overall growth in office face rentals in Australia has fallen slightly, and incentives have increased. In New Zealand, face rents have been relatively stable, with incentives continuing to increase.
- In the Americas, the U.S. office vacancy rate increased by 40 basis points to 14% in the fourth quarter, while industrial and retail availability rates rose 60 basis points to 11.3% and 10.7%, respectively. In Canada, vacancy and availability rates are up in almost every asset class with the exception of multi-residential; softening rents are expected as vacant space lingers on the market for longer periods of time. In Latin America, despite falling office demand, vacancy levels remain near all-time lows, and the sublease rate has yet to rise.
- Globally, real estate capital markets reflect the scarcity of debt and the yawning bid-ask spreads between buyers and sellers. This is reflected in the volume of transactions in 2008, which were down by 60% globally as yields were rising across the board.
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