European Property Investment Shows 46% Year-On-Year Increase
According to a new report, the 2006 turnover in the commercial real estate investment market has shown an increase of 46% on the previous year, up to €227 billion.
The CB Richard Ellis European Investment Report was released at the 2007 MIPIM exhibition attended by Obelisk International earlier this month. It revealed that the commercial real estate market as a whole has almost doubled in size since 2004, as it experienced similar growth between 2004 and 2005.
The German market showed the greatest level of growth, from €20 billion in 2005 to in excess of €51 billion a year later. However, the markets of the Central and Eastern European countries have also demonstrated a significant increase in turnover. The highest growth was in the Russian market, although transactions in Bulgaria and Romania also increased considerably before their admission into the EU in January 2007. The report showed that the level of investment from overseas buyers has risen by 70% to over €100 billion, now accounting for nearly half of all transactions. The number of non-European investors has increased, with particular growth in the number of buyers from the US. The number of buyers from Canada and Australia has also risen.
Head of EMEA Research at CB Richard Ellis, Nick Axford, attributes the growth to two trends: “The aging population of many developed nations has increased the level of savings looking for a home, while at the same time investors are recognising that real estate has characteristics that are well suited to the needs of such savings.”
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The CB Richard Ellis European Investment Report was released at the 2007 MIPIM exhibition attended by Obelisk International earlier this month. It revealed that the commercial real estate market as a whole has almost doubled in size since 2004, as it experienced similar growth between 2004 and 2005.
The German market showed the greatest level of growth, from €20 billion in 2005 to in excess of €51 billion a year later. However, the markets of the Central and Eastern European countries have also demonstrated a significant increase in turnover. The highest growth was in the Russian market, although transactions in Bulgaria and Romania also increased considerably before their admission into the EU in January 2007. The report showed that the level of investment from overseas buyers has risen by 70% to over €100 billion, now accounting for nearly half of all transactions. The number of non-European investors has increased, with particular growth in the number of buyers from the US. The number of buyers from Canada and Australia has also risen.
Head of EMEA Research at CB Richard Ellis, Nick Axford, attributes the growth to two trends: “The aging population of many developed nations has increased the level of savings looking for a home, while at the same time investors are recognising that real estate has characteristics that are well suited to the needs of such savings.”
If you wish to see the original article please click here
posted by Obelisk International at 4:30 pm
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