News
Investment in commercial properties in Europe started to grow.
23.11.2009
Investment in commercial properties in Europe reached 5.1 billion in the third quarter of 2009 marked the end of this plateau of activity, which amounted to 4.2 billion in each of the three previous quarters. Thus the total activity in the sector of retail space in the first nine months of the year amounted to 13.7 billion - just one-third of total investment in commercial properties in Europe for the period, according to consultancy firm CB Richard Ellis, cited by PropertyEU.
The company said that investment in commercial areas during the first nine months were concentrated in a few markets, mostly in Britain, Germany, Italy and Spain. With 64 percent of Spain holds the biggest share. However, influenced by the first of this year's deal for retail space to over 1 billion - the sale and rental of the BBVA bank branches worth 1.15 billion euros.
Following the conditions of limited financing investments in shopping centers generally remain weak in 2009, nominated by the company. However, there are signs that the situation began to change.
At least five commercial center, each of which is worth over 100 million, changed hands in the third quarter of 2009, all except one were purchased by Germany from the open-ended funds. These funds, which generally invest heavily in the office segment, is actively trying to diversify their portfolios, as there has been considerable interest in shopping centers. Indeed, total 940 million spent by the German open-ended funds in the third quarter in Europe, nearly half are commercial centers.
Total third-quarter investment activity of commercial real estate market in the continent was worth 17.3 billion euros, according to earlier data from the company.
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