Commercial property prices to rise in Japan, US on demand: JLL CEO

Tokyo

THE commercial property cycle has another two years to go with prices in some of the world's largest cities set to extend gains, underpinned by office demand and attractive returns amid low interest rates, according to the chief executive officer of property services company Jones Lang LaSalle Inc (JLL).

"There is enough robust demand in the market," Colin Dyer said in an interview in Tokyo on Monday. We see a "very similar phenomenon around the world, so it is okay for now. In two years' time, that may change. This cycle could end in excessive pricing."