Investment NO! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
Investments in retail properties in the continental...The volume of investments in commercial real estate in continental Europe in the third quarter of 2008 decreased from 3.9 to 3 billion eurosThe volume of investments in commercial real estate in continental Europe (excluding UK and Ireland) in the third quarter of 2008 amounted to 3 billion euros, compared with 3.9 billion euros in the second quarter.Thus, according to a recent study by Jones Lang LaSalle, the total transaction volume for the first three quarters of 2008 amounted to 11 billion euros, slightly more than half of the transaction volume for the same period in 2007 (в‚¬21 billion)."Despite the fact that the lack of financial resources and the deterioration of economic forecasts significantly reduced investment activity in the third quarter there were 59 deals (89 in the second quarter), six of which exceeded 100 million euros," the study said.According to the company, today, Germany remains the main area of interests of investors with a total transaction volume of 2 billion euros for the first three quarters of 2008. It accounts for 19% of total transactions, which is much less than in the same period last year (29%).Spain occupies the second place on volume of transactions (1,074 billion euros), followed by Finland (1,024 billion euros) and Russia (EUR 913 million). Although tenant demand for quality retail real estate remains high, retail sales growth is lagging behind the expected level, analysts say."Shopping centers have been the main objective of investors in the first three quarters of 2008 (6.7 billion euros and 61% of the total), but also a commercial storage facilities have become popular due to its sustained investment characteristics: investments in retail outlets manufacturers and retail parks has reached 30% of the total volume of transactions. The supermarket sector, which in 2006-2007 was dominated by buyers who used the borrowed funds, suffered the most this year, its share in total sales accounted for only 9%," - noted in the study."Uncertainty in the financial markets and the continuing lack of financial resources means that investors likely to be cautious until the end of the year. However, in 2009, should open new opportunities, as pricing becomes more realistic, and the capital markets will return stability" - says Jeremy Eddie (Jeremy Eddy, Director for Europe, Department of financial markets and investments in the areas of commercial real estate company Jones Lang LaSalle.Jones Lang LaSalle:Jones Lang LaSalle has more than 170 offices, operates in more than 700 cities in 60 countries. The company's turnover in 2007 amounted to 2.7 billion dollars. Jones Lang LaSalle provides comprehensive services in the field of real estate and capital management at the local, regional and global levels, to owners, tenants and investors. Portfolio Jones Lang LaSalle is more than 110 million sq.