27.01.2012 - Global real estate market to reach US$24.7 trln by 2015
With the effect of recession ebbing, the real estate and construction industry recovered in few US markets and witnessed strong resurgence in Canada and China. However, a number of owners of commercial or home properties are expected to continue facing difficult conditions as the value of properties is still below the cost of purchase, and various mortgage debts are at higher levels than the value of underlying properties. Commercial mortgage foreclosures and delinquencies are also expected to continue affecting the industry. On a corporate level, the industry is expected to witness consolidation of development and construction firms, which would primarily focus on debt reduction, cost control, as well as risk management. Investments in transportation, education facilities, highways, healthcare facilities, and government offices would provide opportunities to commercial construction firms. (Press Release)