THERE are signs of stabilisation in Europe’s commercial property investment market, led by the UK, where transaction volumes remained flat in Q1 2009 at £3.5bn compared with Q4 2008.
This is reinforced by the stabilisation in prime yields in some UK markets, such as central London, over the quarter, reports international property adviser DTZ.
Richard Turner, of DTZ Newcastle, said: “Since the turn of the year both confidence and investor interest in the regional investment market has been steadily increasing. The recovery is being seen across all sectors but most notably in citycentre offices, where with £70m of buildings already under offer in Newcastle, 2009 could turn out to be a record year.”
These trends reflect the UK’s more advanced stage of correction and the depreciation of sterling, which may have increased the attractiveness of the UK market for European investors.
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