Following a slowdown in investment activity in the second half of 2011, property investment markets in Europe suffered further contraction through the first quarter of 2012.
Continued sensitivity to risk amongst active investors and a severely constrained debt market has hampered investment activity across almost every market. For the first quarter, significant commercial property transactions totalled €29.0b, declining by 17% yoy. Over 1,500 properties traded, down 26%.
However, amidst a decline in overall European investment in the first quarter of 2012 to €28.4b, down 19% YOY, cross-border acquisitions by global investors continues to increase on both a total and net basis. Acquisitions by continental investors also continue to increase, but their dispositions have exceeded acquisitions for the past six quarters" *Trailing 12 month totals.
About REAL CAPITAL ANALYTICS
Real Capital Analytics, Inc (RCA) is an independent research firm focused exclusively on the capital investment markets for commercial real estate. RCA offers the most in-depth, comprehensive and current information of activity in the industry. Formed in 2000, RCA has offices in New York City, San Jose, and London. In addition to collecting transactional information for property sales and financing, RCA interprets the data including yields, market trends, pricing and sales volume. The firm publishes a series of Capital Trends reports and offers an online service that provides real-time, global transactional market information.