Things looking up for Naples Commercial Real Estate Brokers?
After years or relatively low house and land prices, most of us were surprised when they fell even lower during late 2007 early 2008. Land isn’t something we’re short of here, but prime land has always been just that. Some areas like Port Royal have always fetched a premium, and always will whatever the economic climate.

However compared to figures released this month by Colliers International Property Report we’ve got it good and maybe Naples commercial real estate property prices aren’t so bad after all. According to the report the most expensive place in the world to rent commercial space is Tokyo with an average price of $23 per square foot. Compare that to the average around Naples of between $1-2 per square foot, you can see that maybe things aren’t so bad.

With Hong Kong coming third with an average price of $15, you can see why only the most successful companies rent space there. To purchase land in Hong Kong it would cost approximately $680 per square foot, and that is for industrial space. Prime residential and office space is much higher than that.

Despite these astonishing process, the property markets in both Japan and Hong Kong are seeing signs of growth over the past couple of months. After significant losses, along with the rest of the world, they are now seeing a slow rise of up to 5%, which is expected to stay steady for the next twelve months.

Surprisingly the second most expensive place to rent warehouse space, in the world was Heathrow Airport in the UK. It costs an average of $21 per square foot to rent space here, although that price is sure to be negotiable. With a decline of almost 25% over the past year, landlords are sure to want to deal. Land cost here is also expensive, the most expensive in Europe at $61 per square foot. Space is so limited in the area, and planning laws so strict, that there is unlikely to be any new land made available for the foreseeable future, which has held the prices up despite the decline in rentals and sales.

With the theory of the recession having bottomed out, prices aren’t likely to fall much further. Holding out for a good deal may begin to be a bad idea, as news of recoveries or “green shoots” become more prevalent.

So if you’re a business planning to expand or move to the Naples area, think twice before complaining how expensive it is to rent or buy land here. We have it easy compared to the rest of the world!