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Global property slide may be long

Ilaina Jonas Reuters
Global property slide may be long - Global property - slide - long - Commercial - real estate markets - United States - Jacques Gordon - LaSalle


NEW YORK (Reuters) - Commercial real estate markets in many parts of the world are falling and in the United States, the largest market, things are poised for a deep, lingering dive, experts said.



"I've never seen the sector get so tied up in knots as it is right now," Jacques Gordon, global strategist and head of Research for LaSalle Investment Management, told the Reuters Real Estate Summit this week.

Commercial real estate markets around the globe are facing debt repayment issues, declining values, and deteriorating rents and occupancies in different combinations.

Prices are resetting lower at different speeds and magnitudes country by country.

"The UK is way out ahead," Gordon said. "We do not see the U.S. teed up to be the number two in the re-pricing process. We are seeing Australia, even signs of Japan and Germany out ahead in terms of re-pricing."

 


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