In a report released by Colliers International, commercial real estate sales in Hawaii decreased by 17.6 percent in 2011. The total volume of sales fell to $1.22 billion as compared to $1.48 billion in 2010. Director of consulting and research, Mike Hamasu, stated, “The bottom line is that we were anticipating more major transactions to occur in 2011 as a result of the recession and distressed sales. Let’s just say that the recovery has been spotty or uneven. We’re projecting the market will improve at a steady pace over current levels and real estate will continue to be a viable option in comparison to alternative investments like treasuries, bank accounts or the stock market.”
Source: Honolulu Star Advertiser, 3-9-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
