Global property deals plummet 80% in Q4
Private Equity Real Estate reports: Real estate investors literally stopped buying and selling property in the final quarter of 2008, as global property transactions fell by a staggering 80 percent.
According to preliminary data from Real Capital Analytics, the US was one of the hardest hit countries during the closing stages of the year, with real estate sales and purchases down 88 percent in the last 3 months to the end of December 2008 (compared to 12 months earlier).
The best performing region in the world during the fourth quarter was Eastern Europe, where property trades fell by just one half.
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Posted by: Nina Turner