The full impact of the credit squeeze has yet to be seen in the property investment market, according to John Welham, head of EMEA retail investment at CB Richard Ellis. Welham, who was speaking at the presentation of the European Shopping Centre Digest 2007 at the Mapic retail fair in Cannes, said that this is likely to have an increasing impact on transaction volumes in the final quarter of the year.
The full impact of the credit squeeze has yet to be seen in the property investment market, according to John Welham, head of EMEA retail investment at CB Richard Ellis. Welham, who was speaking at the presentation of the European Shopping Centre Digest 2007 at the Mapic retail fair in Cannes, said that this is likely to have an increasing impact on transaction volumes in the final quarter of the year.
According to Welham, there is no doubt that prices for shopping malls, particulary secondary stock, have eased in some markets since the summer. Evidence exists that both buyers and sellers are waiting for clearer signals on how the turbulence in the financial markets will ultimately feed through to the wider economy. Retail assets, in particular shopping centres, remain popular among investors as they tend to be good defensive assets during times of uncertainty, Welham added.
