Source: Sharecast
Savills said global investment activity continued to be led by strong growth in the US, where volumes rose more than 20% year‑on‑year in the first quarter, although the group noted it currently has limited exposure there ahead of the planned acquisition of Eastdil Secured. Investment in EMEA fell 4% on a constant‑currency basis, including a 3% decline in the UK, while Asia‑Pacific saw a strong start to the year with investment up 16% and broad‑based sector growth.
The FTSE 250-listed firm's Commercial Transactional Advisory business delivered a solid first‑quarter performance, with healthy pipelines across regions.
EMEA capital markets and leasing volumes were in line with expectations, while Asia‑Pacific saw a significant recovery in capital transaction revenues, including a strong start in Hong Kong and improving activity in Mainland China. North America performed as expected, supported by several larger transactions.
In UK residential, early strength gave way to greater caution among buyers and sellers following the onset of the Middle East conflict, lengthening completion timeframes but without increasing fall‑through rates. Q1 transactions rose 1% year‑on‑year, driven by a 13% increase in London.
Savills also noted that its less transactional businesses continued to perform well, supported by last year's restructuring, and highlighted that it now expects its Eastdil Secured acquisition to complete around the end of July.
Assuming a timely resolution to the Middle East conflict, Savills continues to expect its FY performance to be in line with forecasts.
As of 0915 BST, Savills shares were up 0.36% at 836p.
Reporting by Iain Gilbert at Sharecast.com
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