Real Estate Info

Deteriorating economic conditions have now taken their toll on almost all the commercial property market in the world, according to a global survey of surveyors. The last months have shown a sharp decline in the need and demand for real estate in areas that had previously appeared immune to the current economic crisis. In parts of Asia and Eastern Europe have been hit with real estate brokers allegedly reporting record falls in demand for commercial properties. The Indian market for commercial property has been particularly affected and one of the biggest collapse in property values has been seen in Eastern Europe a region that until recently was experiencing a boom in their building and the industry developers. Areas such as Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Slovakia, Turkey and Ukraine have all reported a decline in property values and property, with Russia being the country most affected.

The credit crunch has literally burst the housing bubble in Bulgaria with the financiers trying desperately to sell capital goods they have there. The Bulgarian economy has been left in a serious condition due to significant investments in tourism and commercial real estate, rather than spending on manufacturing and exports.

Russian commercial real estate investments are also made in the expectation that now defines the global credit squeeze in. developers in Russian cities are delaying projects due to lack of capital, shopping centers and malls are the most affected. Large cities such as St. Petersburg and Moscow are feeling the financial effects, as well as regional cities, whose expansion plans have been put on hold.

However, some countries are showing more resilience than other economic slowdown. RICS research showed that the commercial real estate market in China has shown more resistance with some actual increases expected in the number of commercial property that is leased and sold throughout China in the coming months.

Central London is another city that has been hard hit by commercial property to tour with the investment fund specializing in the development of retail and office buildings being particularly hit by the crisis. Retailers are encouraged to combat slowing sales this Christmas by ensuring that they provide unparalleled brand equity, consumer price-based competitive value-added promotions and activities that encourage repeat purchases as opposed campaigns normal seasonal TV celebrities.


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