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European investment rises for the first time in seven quarters | ||
Friday, Oct 16, 2009 | ||
The European investment market turned the corner in Q3 with an increase of 2%, according to leading real estate adviser BNP Paribas Real Estate's latest European Investment Market Indices. The index measures investment across seven key European cities: Central London, Central Paris, Madrid, Berlin, Munich, Frankfurt, Milan and Brussels. Central London saw the greatest rise with EUR 2.96 bn transacted in the third quarter of 2009, compared to just EUR 1.45 bn in the preceding quarter and EUR 1.7 bn over the same period last year. However, Paris, Munich and Brussels also saw an upsurge in activity in the third quarter, transacting EUR 1.3 bn, EUR 571 mln and EUR 120 mln respectively, compared to Q2 figures of EUR 794 mln, EUR 133 mln and just EUR 30 mln, the report said. All the other cities recorded in the index saw falls in activity with Milan in particular seeing a fall from EUR 257 mln of investment transactions taking place in Q2 2009 to EUR 147 mln in Q3. Andrew Cruickshank, international investment director at BNP Paribas Real Estate, commented: ' We have seen a rise of transactions from cash-rich investors who are focusing on high-quality assets which have been re-priced over the last two years or so. Typically these transactions have taken place in the markets that re-priced the quickest: London and Paris. |
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Source: Propertyeu.info | ||
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