While the traditionally strong property markets of Latin America and Asia are performing well, emerging markets are continuing to post further improvements. New European destinations in particular are proving popular choices among investors, the latest Global Commercial Property Survey from the Royal Institution of Chartered Surveyors (RICS) has revealed.
Positive sentiment towards real estate is being felt in an increasing number of countries and more property professionals, particularly in emerging Europe, appear increasingly bullish towards the occupier market, it says.
Outside of Europe, however, there are a number of regional differences in terms of real estate performance.
Australia, the US, China, India, Brazil and Russia are all given a positive forecast, with market credentials, demand and sentiment all strong. The UK and New Zealand, however, do not fare so well, RICS explains.
Uncertainty over the economic outlook in the UK leads the consultancy to speculate that the market will continue to languish into the next quarter and agents are expecting further declines in both rents and capital value.
In spite of this, prime property in London continues to outperform markets in the rest of the country.