Morgan Stanley's Kalsi Says Property Values to Fall
Thursday, November 13, 2008
Source: Bloomberg
Bloomberg reports: Japan offers the best investment opportunity in a global market for commercial property that may fall as much as 30 percent, said a managing director and co-head of real estate investing at Morgan Stanley.
During the first eight months of the year, global sales of commercial property including offices, hotels and shopping malls fell 57 percent to $388 billion, Real Capital Analytics Inc. said in its Global Capital Trends report for September/October. Sales tumbled 77 percent to $106 billion in the U.S., 55 percent to $38 billion in the U.K. and 50 percent to $89 billion in the rest of Western Europe.
View the full article on Bloomberg: Morgan Stanley's Kalsi Says Property Values to Fall
Posted by: Nina Turner