European commercial property market shows signs of recovery | 4 November 2011
A recovery of the European commercial property market seems to be on the cards after investment volumes increased in the third quarter, reports Property Wire.
Figures show an increase to 28.8 billion euros with a rise in international buyers to a market share of over 40 per cent – the highest figure for two years.
Michael Rhydderch, an investments insider, believes the rise in transactions comes as no shock: “If anything, property has a growing level of appeal to many buyer’s in today’s environment.”
The increase in investment has been put down to “a combination of attractive yields and strong discount movements”, especially in the UK, according to fundweb.co.uk.
Other top markets for growth include France, Switzerland, Czech Republic, Poland, Hungary and Slovakia. Russia has also been a big mover, accelerating up to fifth place within Europe, up from ninth.
David Hutchings, a market expert, predicts that despite some stuttering, the commercial property market will continue to prosper: “This could yet produce a reasonable end to the year if deals can be closed out in time. We expect the market to get back into its stride quite quickly and are forecasting a final quarter volume of 33 billion euros, giving a total for the year of 119 billion euros – 2 per cent up on 2010”.
Written by Ashley Curtis on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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