The third quarter of 2012 was characterized by low activity in the property market, but there are some opportunities for improvement.
The latest report RICS Global Commercial Property Survey shows the stagnation of commercial real estate in Europe, due to the debt crisis.Despite it, the third quarter of 2012 for many countries was marked by a slightly better performance than the previous one.
The clearest symptom of opportunities to improve on the market is the announcement by the European Central Bank, the OMT program- Outright Monetary Transaction, designed to reduce the cost of loans of heavily indebted euro zone countries due to redemption of their bonds.This plan can stabilize and improve the economic situation in Europe.
Other positive trend mentioned in the RICS report, is a significant increase in rental demand in countries such as Russia, Belgium, Germany and Austria. Poland also noted an improvement in investment market. Russia, the United Arab Emirates, United States and Canada have the best prospects for the commercial real estate market.
Unfortunately, the report also contains a lot of negative news in the area of economic activity. The problem is low demand for rental and investment. The largest decrease in this ratio was recorded in France, Italy, Greece and Spain.
RICS report allow us to look to the future with cautious optimism. According to experts, the introduction of the OMT program gives hope for improvement.