LONDON Oct 12 Investment in European commercial
property edged up 7 percent in the third quarter to 26.3 billion
euros ($35.9 billion), from 24.5 billion a year ago, with price
stability in the UK, Germany and France making them key targets,
data showed on Wednesday.
"The last quarter has reinforced some of the earlier trends
seen in Europe over the last year or so, such as that prime real
estate is holding up fairly well, even in the current uncertain
climate," said CBRE's head of EMEA capital markets,
The CBRE data showed third-quarter property investment in
the UK was 7.5 billion euros, down 22 percent from a year
earlier. In Germany it rose 56 percent to 5.7 billion euros,
while in France it was up 43 percent to 3.6 billion.
In central and eastern Europe (CEE), property investment
rose 70 percent to 2.7 billion euros, making it the
fastest-growing European property investment market, with
activity focused on Poland, the Czech Republic and Hungary.
"With 81 billion euros of investment activity reported in
the market in the first three quarters of the year, we expect
European investment turnover to exceed that in 2010, when 110
billion euros was transacted for the full year," Hull said.
($1 = 0.733 Euros)
(Reporting by Andrew Macdonald; Editing by David Holmes)