Investment in European commercial property reaches six-year high | 29 August 2013
Investment in European commercial property has risen to pre-crisis levels, according to new research.
Frankfurt Skyline Figures released by real estate consultancy CBRE indicate that £32.6 billion euros was spent on the acquisition of new commercial property in the second quarter of 2013.
That represents a 32 per cent rise when compared to the same period last year and the highest figure since Q2 2007.
Pie-mag.com reports that 44 per cent of this sum was spent by foreign investors. Investors from North America and the Middle East were especially keen to snap up European properties. In fact, it was reported that that North Americans were responsible for 13 per cent of the capital spent on commercial property in Europe in the second quarter.
Only 16 per cent of the total capital was spent on intra-European investment. Germans remain the keenest cross-border buyers in Europe.
In an interview with arabnews.com, CBRE Middle East managing director Nick Maclean claimed that London was the most attractive destination in Europe for foreign investors.
He said: “London remains the destination of choice for foreign investors due to its solid growth potential and its status as a global financial hub, alongside its stable political environment and a transparent legal system, which are key for international and regional buyers.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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