Office property sales account for a great deal of real estate investment, but recent news tells us that, across the globe, office property sales are down in the first quarter of 2016.
Real estate firm JLL found global activity totalled $133 billion in Q1 of 2016, which is 14% lower than Q1 of 2015. It is also the weakest performance since 2013.
Despite this being a global issue, the EU referendum still manages to sneak its way into some of the reasoning behind Europe’s decline in office property sales, with the uncertainty causing a 15% drop in sales volumes.
While this is bad news for investors looking at workspace property, the decline in sales will have the knock on effect of more competitive pricing. Time to grab a bargain!
How are property sales going for you? Get in touch and let us know.