Global Real Estate Activity Rises
Dubai June 20, 2011: Global real estate activity increased in the first three months of this year, according to a new report released on Monday by property adviser CB Richard Ellis (CBRE).
However, the report also said the recovery across Europe, the Middle East and North Africa (EMEA) was held back by Europe's sovereign debt crisis.
"Lenders have not forgotten the legacy of bad debts that remain from the global crisis period," said Dr. Raymond Torto, CBRE's global chief economist.
"Although some new players have entered the market, their interest is mainly in cherry-picking the best deals and providing senior debt for transactions involving high-quality, core property," he added.