Commercial real estate investment volumes across Europe continued their upward trend over the third quarter 2009, posting a 30% increase to EUR 13.8 bn from EUR 10.7 bn in Q2 2009 - though still remaining well below the EUR 30 bn quarterly average since the beginning of the century, global real estate advisor DTZ revealed in its latest investment volume figures for Europe.
Commercial real estate investment volumes across Europe continued their upward trend over the third quarter 2009, posting a 30% increase to EUR 13.8 bn from EUR 10.7 bn in Q2 2009 - though still remaining well below the EUR 30 bn quarterly average since the beginning of the century, global real estate advisor DTZ revealed in its latest investment volume figures for Europe.
The increase marks the second quarter-on-quarter rise from the market's low point in Q1 2009, when volumes fell to just EUR 9.9 bn and is in line with trends across Asia Pacific where investment volumes marked the third quarter-on-quarter increase in Q3 2009 to US$17.1bn (EUR 12 bn).
Commenting on the figures, Magali Marton, head of CEME (Continental Europe and Middle East) Research, said: 'Activity across Europe continues to be driven by the big three markets of the UK, Germany and France, which combined, accounted for over 70% of activity in Q3.'
The DTZ figures show that the main drivers of growth over the third quarter were in the UK, up nearly 50% to EUR 5.3bn from EUR 3.6bn, and in Germany, up over 40% to EUR 2.75 bn from EUR 1.9 bn, whereas volumes remained relatively unchanged at EUR 1.8 bn across France. Elsewhere in Europe, volumes rose by over 200% in Sweden to EUR 850 mln from EUR 270 mln, whilst Spain posted a near 50% increase in activity to EUR 1.2 bn from EUR 800 mln.
