Market Data

International Beat(10)

Japan’s Big Deal

In Japan’s largest real estate deal of 2009, Secured Capital of Japan purchased Pacific Century Place, a 32-story class A office property located adjacent to Tokyo Station in the city’s Marunouchi business district. The price is estimated at $1.6 billion and the seller was DaVinci Advisors.

Markets to Watch

Shanghai — Real estate acquisitions in 2009 increased 42 percent over the previous year, with 22 transactions totaling more than $3.6 billion, according to Jones Lang LaSalle. Office properties accounted for 79 percent of the deals. Domestic investors dominated the market with owner-occupiers accounting for half of the purchases.

Vancouver — While transaction volume in the first half of 2009 dipped to the lowest levels in seven years, two large office sales — $297 million and $84 million — helped the city’s investment profile, says Avison Young. Large institutional and private investors searching for trophy properties are now in a buying mode, as corporate tenants in one of North America’s tightest office markets are assessing their medium- and long-term needs.

European Property Investors Survey

Investors by country Percentage likely to buy more real estate in 2010 Percentage who see country’s property market recovering in 2010
English 60% 30%
French 52% 13%
German 38% 12%
Source: Union Investment

Latin America Hotel Growth Slows

1Q08 4Q09 % Change
Country Rooms Projects Rooms Projects Rooms Projects
Mexico 25,610 136 17,984 121 –30 –11
Central America 9,009 48 6,975 35 –23 –27
South America 62,896 371 35,010 228 –44 –39
Source: Lodging Econometrics

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