The deterioration of the mood in the German real estate market continues unchecked, though the downward trend slowed in November, according to King Sturge's monthly Real Estate Economy index.
The deterioration of the mood in the German real estate market continues unchecked, though the downward trend slowed in November, according to King Sturge's monthly Real Estate Economy index.
The broker said that its Real Estate Climate - which is also based on a poll - dropped from 55.4 index points in October down to the current low of 48.2 points for November.
'You hardly need a crystal ball to divine that the year 2008 is over, as far as business goes. Major deals are probably not to be expected anymore, to say nothing of large-scale transactions. What is more, many real estate projects have been put on the back burner or shelved altogether,' said Sascha Hettrich, managing partner of King Sturge Deutschland.
