Additional Commercial Property Information
The total value of commercial property in the United States was approximately $11 trillion in 2009, as measured by the CoStar Group and published in the Journal of Real Estate Management.
According to Real Capital Analytics, a New York real estate research firm, more than $160 billion of commercial properties in the United States are now in default, foreclosure, or bankruptcy. In Europe, approximately half of the €960 billion of debt backed by European commercial real estate is expected to require refinancing in the next three years, according to PropertyMall, a UK‑based commercial property news provider.
However, the contribution ploughed into Europe's economy in 2012 can be estimated at around €285 billion according to EPRA, not to mention social benefits of an efficient real estate sector. It is estimated that commercial property is responsible for securing around 4 million jobs across Europe.
Read more about this topic: Commercial Property
Famous quotes containing the words additional, commercial, property and/or information:
“Don’t you think I’ve had enough excitement for one evening, without the additional thrill of a strange man making love to me?”
—John L. Balderston (1899–1954)
“I do seriously believe that if we can measure among the States the benefits resulting from the preservation of the Union, the rebellious States have the larger share. It destroyed an institution that was their destruction. It opened the way for a commercial life that, if they will only embrace it and face the light, means to them a development that shall rival the best attainments of the greatest of our States.”
—Benjamin Harrison (1833–1901)
“It is clearly better that property should be private, but the use of it common; and the special business of the legislator is to create in men this benevolent disposition.”
—Aristotle (384–322 B.C.)
“Knowledge is of two kinds. We know a subject ourselves, or we know where we can find information upon it.”
—Samuel Johnson (1709–1784)