The Americas were the best performing region globally for real estate investment value, according to the Q1 2012 CBRE Capital Value Index.
“There has been a marked increase in investor interest in the Americas’ prime properties over the last year and this is reflected in the CBRE Americas Capital Value Index,” says CBRE global chief economist, Raymond Torto.
“Last year at this time the Americas was showing respectable gains, but were far behind the 19 percent annual performance witnessed by the Asia-Pacific Capital Value Index,” Torto says.
The year-on-year change in capital values for the Americas in Q1 2012 was 9.6 percent.
The Americas Capital Value Index showed the strongest improvement in Q1 2012, leading on the basis of quarterly and year-on-year gains. While the index is expanding, CBRE says it stands 17.4 percent below its pre-recession peak.
EMEA’s Office Capital Value Index dropped 0.99 percent in Q1 2012 but remains 0.7 percent higher than Q1 2011.
CBRE says while office capital values have been recovering, only the Asia Pacific Office Capital Value Index has surpassed its pre-recession peak; Q1’s index value is now 1.1 percent above the peak. It has recovered 31 percent on its pre-recession trough, recorded in Q3 2009.
The indices measure office capital values and rents for prime office properties globally and in the Americas, EMEA and Asia Pacific.
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