Canadian-based real estate investors were among the most active in the world during the first three months of 2011, a new study by Jones Lang LaSalle has revealed.
The consultancy revealed that cross-border investments were up by 25 per cent compared to the same period a year previous, with a total of USD 37 billion transacted worldwide. The most active buyers were global funds, followed by Canadian and Singaporean investors, the Globe and Mail reports.
"A rapidly growing share of the global commercial real estate investment market belongs to the high-growth emerging markets and to commodity-rich countries like Canada. Improving transparency and solid economic prospects will only add to this trend," the report stated.
Over the quarter, offices were found to be the most attractive investment, with the asset class making up 45 per cent of all deals, however, retail space is expected to catch up in the coming months.
According to the report, the pace of market recovery following the global financial crisis has been better than expected. Jones Lang LaSalle added that investment activity is growing faster than the economy thanks to current low interest rates in the US and Europe.