Global property adviser Jones Lang LaSalle is forecasting that direct commercial real estate transactions this year will be about 30% higher than in 2009 at around EUR 90 bn.
Global property adviser Jones Lang LaSalle is forecasting that direct commercial real estate transactions this year will be about 30% higher than in 2009 at around EUR 90 bn.
Direct real estate volumes in EMEA in Q1 2010 reached EUR 20 bn, according to research by JLL. This was 75% up on Q1 2009 (EUR 12 bn) but 15% below the previous quarter Q4 2009 (EUR 25 bn).
The UK accounted for over one third of the total with transaction volume at EUR 7.8 bn, roughly the same as the previous quarter. The UK was followed by Germany, France and Sweden in terms of Q1 volumes and each recorded an increase in activity compared to the previous year’s volumes.
Richard Bloxam, director, EMEA Capital Markets, Jones Lang LaSalle said: 'The first quarter of the year is typically one of the slowest quarters; investors do not have the urgency to press on and close deals as they do towards the end of the year. Typically the first quarter is some 20-30% below the fourth quarter, so we do not read a 15% decrease as a sign of a slowing market.'