Jump in sales of distressed commercial property

Over eighty percent of countries  are experiencing a rise in distressed sales in the commercial property market, according to research by the Royal?Institute of Chartered Surveyors (RICS) out  today. During the third quarter of 2009, RICS surveyed members and other real estate executives in 25 countries across the globe to ascertain the volume of distressed sales in the commercial property market. Eighty per cent of the countries surveyed reported an increase in distressed sales compared to three months earlier. Russia, US,  Spain  and Ireland to see most rapid pick up in sales of distressed properties in the fourth quarter with more modest rises elsewhere.