The US is among the countries which have seen the biggest rise in distressed sales in the last 12 months, which could interest property investment funds.
The US is among the countries which have seen the biggest rise in distressed sales in the last 12 months, which could interest property investment funds.
The Royal Institute of Chartered Surveyors Global Distressed Property Monitor for the fourth quarter of last year has found that both America and Japan had the biggest rise in these sales, although 19 out of 25 countries experienced an increase.
Oliver Gilmartin, senior economist at the organisation, claimed that the pace that these properties are entering the market is a welcome feature.
He said: “The orderly unwinding of property loan books at banks in the coming years is crucial to the sustainability and health of the budding recovery in some global property markets.”
Mr Gilmartin added that it is important that aggressive foreclosure behaviour does not lead to a second fall in the markets, threatening their stability.
Baring Asset Management recently highlighted the fact that the US recovery is not assured, warning hedge funds that the country is operating at a below-normal level for its position in the economic cycle.
