Commercial real estate transaction volumes rose by 43 per cent in the UK in 2013, with the country leading impressive growth across the whole of Europe, new figures from property firm Savills show.
Along with the other core markets of Germany and France, the UK accounted for 77 per cent of pan-European investment volumes last year, with the total value reaching almost £118 billion. This is the highest figure recorded in seven years, according to propertywire.com.
The growth in the UK has been driven largely by foreign investors, with developers from Southeast Asia and the Middle East snapping up sites in London, the Midlands and the North West.
Robin Williamson from professional services firm Deloitte was quoted by thenational.ae as saying: “Commercial is a sound investment in the UK because of the tenure. There is huge protection for landlords because of landlord and tenant legislation, and leases are long. So add those two together and it is almost a bond style investment category.”
The report from Savills also highlights major growth in Greece, where transaction volumes rose by 1,011 per cent to reach £752 million for the year.
Looking forward, the researchers predict that 2014 will be another strong year for countries across Europe. They expect an increase of around 32 per cent in Ireland, with Sweden (30 per cent) and France (24 per cent) also expected to show significant growth.
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