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Thursday, June 19, 2008

US commercial property investment off 69.5pc

WASHINGTON: Investment in commercial real estate in the first four months of the year was off 69.5 per cent from the same time in 2007, the National Association of Realtors said yesterday.

At the end of April, investments totalled US$48.2 billion compared to US$157.8 billion at the same point last year, the trade group said in its monthly report.

“Slow economic growth is lowering demand for commercial space, mostly in the office and industrial sectors,” NAR chief economist Lawrence Yun said in a statement.


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