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A report from Royal Institution of Chartered Surveyors showed that while the global commercial real estate industry improved during the first quarter, the progress was reversed somewhat in the second quarter.
The firm's Global Commercial Property Survey for the second quarter showed that many European countries have struggled due to the continent's economic issues. France, Netherlands, Italy and Greece has some of the poorest scores on record. Singapore also experienced a negative month.
However, the Americas and Asia had multiple areas that showed strong improvements, despite the global dip, the report explained. The United States and Canada both had strong activity, while Brazil, China, Japan and Thailand experienced impressive quarters, as well.
"The re-emergence of the euro crisis allied to generally weaker economic numbers has clearly taken its toll on much of the real estate world although the continuing strength of the market in countries such as Canada, China and Thailand is impressive," said Simon Rubinsohn, chief economist for RICS.
He added that there is reason to be positive about the global commercial real estate situation, but it may take more government intervention to improve the situation as the year continues.
