NEW YORK, NY /PRNewswire/ -- Commercial real estate executives expect to see improvements in revenue and headcount next year, but the majority predict a full economic recovery is years away, according to a recent survey by KPMG LLP, the audit, tax, and advisory firm.
These executives also believe distressed real estate will remain a key industry issue.
In the KPMG survey, 64 percent of the commercial real estate executives said their company's current revenue is higher than last year, and 75 percent anticipate that their revenue will be higher one year from now.
They also are beginning to add headcount. Fifty-three percent said they plan to add personnel in the next year, compared to 13 percent seeing a decrease.
However, they are not predicting that hiring will significantly pick up anytime soon. When asked when they expect their company's U.S. headcount to return to pre-recession levels, 27 percent said the end of 2013, 17 percent said the end of 2014 or later, and 11 percent said it would never return to pre-recession levels.
In addition, 57 percent do not expect a full economic recovery until the end of 2013 or later.
For a complete copy of the company’s news release, please contact
Ichiro Kawasaki
KPMG LLP
201-307-8640
Web Site: http://www.us.kpmg.com/
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