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10/08/2010 - Number of distressed properties increases in Western economies  10/08/2010 - Number of distressed properties increases in Western economies

A global survey by the Royal Institute of Chartered Surveyors [RICS] has shown an increase in the number of distressed properties coming onto the market.

This survey has also provided evidence that emerging economies are recovering quicker than their European counterparts.

Brazil, Russia, India and Hong Kong all showed a decline in the number of distressed properties for sale during the second quarter of 2010. The largest growth in numbers was reported in Portugal and closely followed by the U.S. and Ireland.

The RICS predict Portugal and Ireland will see the fastest growth in distressed property listings followed by the U.S., Spain and Scandinavia.

There is, however, positive news for Brazil, China, Hong Kong, Canada and India where the decline in distressed property is expected to continue.







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