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Preliminary volumes up 27 percent over H1 2013
chicago, LONDON, SINGAPORE, July 09, 2014 – Increasing allocations into commercial real estate in the first half of 2014 is driving transaction volumes higher across much of the globe, with direct commercial real estate transactions reaching US$294 billion, up 27 percent over the same period last year. Due to the stronger-than-expected performance in both the Americas and Europe, as well as the steady volumes in Asia Pacific, JLL is revising its earlier full year transaction volume forecast from US$650 billion to US$700 billion.
Stephen Wyatt, Country head of JLL Vietnam commented "JLL Capital Markets and Corporate Finance departments throughout Asia Pacific advised on transactions worth $21.5 billion in 2013, this level of interaction and activity with the most prominent investors in the region provides us with a valuable insight into their views on the Vietnamese market.
Over the past 6-12 months we have seen a change in mind set from a number of foreign investors on the Vietnamese market. We are now witnessing renewed interest from many large pension funds, private equity firms and developers looking to allocate funds to Vietnam. This is a dramatic turnaround from the past 3-4 years when Vietnam was considered a "no go" for many.
The general consensus for many foreign investors is that economic conditions are stable and the real estate market is at the bottom of the cycle, this is fuelling an increase in activity, however, challenges remain when investing in an emerging market and investors are cautious when making their first acquisition in a new country.
As market conditions continue to improve we expect that foreign investors with existing operations in Vietnam will have first mover advantage and will use their knowledge of the local market to increase their exposure and portfolios".
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