The Real Deal Miami

Commercial sales down worldwide

October 13, 2008 05:11PM

Sales of significant commercial properties worldwide totaled $388 billion in the first eight months of the year, a 57 percent decrease compared to the same period in 2007, according to Real Capital Analytics. RCA also reports that preliminary data for the third quarter of 2008 shows sales are down 64 percent compared to the third quarter last year. The report predicts more properties will come on the market through distressed sales.