There has been an increase in the number of real estate assets being brought to market in commercial sectors across Europe, new research has found. According to CB Richard Ellis (CBRE), since the end of the summer, a rising number of such assets have been put up for sale, with Paris and London among the cities to see a particular jump in stock levels. The firm pointed out that in central London, GBP 6.5 billion of office properties are either on offer or being prepared for sale, with the total value of commercial real estate transacted so far in the city this year standing at GBP 6.8 billion.
Looking at the European office sector in more detail, CBRE explained that during the first half of this year, there was a notable decline in the number of deals for such properties taking place. However, during the third quarter, the market picked up, although the organisation warned that due to a lack of new developments for office space, supply is likely to become highly constricted once a genuine recovery gets underway. Meanwhile, Cushman & Wakefield recently reported that investment volumes in European commercial property increased by five per cent during the third quarter of 2011, compared to the previous three months - and were up by 12.3 per cent year-on-year.
- Thursday 03 November 2011