2009 Global Market Report
Dear Real Estate Executive:
What a difference 12 months makes. The Great Capital Strike triggered by the collapse of the residential mortgage market has spread globally, and has now rippled across virtually every market and sector. The 2009 outlook for the commercial real estate industry is rather bleak, characterized by a global recession, weakening market fundamentals, frozen credit, investors on the sidelines and millions of square feet of retail, office and industrial property re-entering the market as financial institutions, retailers and corporations retrench or close. We expect vacancy rates to rise and rents to slip in 2009 as a result.
Still, even down cycles present opportunities. We expect investment sales to increase in 2009 as market forces close the gap between the bid and the ask. And corporate tenants will find a welcome window of relief from the supply constraints that drove rental rates and sale prices to record levels only a year ago.
NAI Global is pleased to present its 2009 Global Market Report. Now in its 23rd year, the Global Market Report provides comprehensive market data and overviews on 212 property markets around the world. This year’s edition is our most comprehensive report ever, with coverage of all primary markets and most secondary and tertiary markets worldwide. Using both narrative market reports and statistical charts, we provide you with market highlights, trends, demographic and business profiles, rental rates, vacancy rates and land prices. The 2009 Global Market Report puts a wealth of market intelligence at your fingertips in a succinct and consistent market profile format.
Dr. Peter Linneman, NAI Global’s Chief Economist and Principal of Linneman Associates, the leading real estate economics consulting firm, worked with us again this year to prepare the Global Outlook. Linneman Associates has added its expert economic analysis and insights to the detailed local market information from NAI professionals worldwide to deliver the information you need on commercial real estate costs and market conditions around the world. We are proud of our relationship with Dr. Linneman and are pleased to be able to share his insights with you.
All of the market information in the 2009 Global Market Report is available online at www.naiglobal.com and major markets are updated quarterly throughout the year. For the latest in commercial real estate industry news and trends, Global Economic Outlook briefings, market updates and much more, visit www.naiglobal.com.
Just as NAI Global provides you with in-depth knowledge and insight on markets around the world, our global managed network can help you achieve your real estate objectives no matter how large or small, anywhere in the world. Our clients come to us for our deep local knowledge which leads to results that are tangible, measurable and visible on their bottom line.
We welcome the opportunity to serve you. If we can assist you with a current or future real estate requirement anywhere in the world, please contact us at + 1 609 945 4000 or call your local NAI professional.
Jeffrey M. Finn
President & Chief Executive Officer
Prepared and Issued by NAI Global www.naiglobal.com / Published to the Site www.naibaltics.com by NAI Baltics – commercial real estate services in the Latvia, Lithuania, Estonia. Your trustworthy partner, advisor and consultant in the Baltics and Worldwide.