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Distressed commercial property sales increasing around the world

Over 80% of key real estate markets around the world have seen a rise in distressed sales in the commercial property market, according to new research.

The survey by the Royal Institution of Chartered Surveyors of its members in 25 countries found that the biggest pick up in distressed sales was in South Africa, the US, Portugal and France in the third quarter of 2009.

Other countries also reported an increase compared with the second quarter of the year but the growth was slower.

Only China, Hong Kong and Brazil reported a decline in the number of distressed properties coming onto the market.

Looking ahead, real estate professionals said that they expect the number of distressed properties coming onto the market to increase into the fourth quarter across 19 of the 25 countries surveyed.

Russia, the US, Spain and Ireland are expected to see the biggest rise with New Zealand, Italy, Malaysia and Germany next in line.

via Distressed commercial property sales increasing around the world | Asia | News.

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