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Cross-Border Business Down On Last Year's Record Levels

LONDON-European cross-border investment in real estate grew in the third quarter of 2001 according to new research from DTZ. Turnover for 2001 is unlikely to match the record levels set in 2000 but the agent says there is still a long-term upward trend.

By Graham Parker | Updated on November 21, 2001

LONDON-Cross-border investment in property in Europe rose in the third quarter of 2001 to €4.527 billion ($4.11 billion) in the third quarter of 2001, from €4.255 billion ($3.87 billion) in the second quarter This brings the total for the year to date to €15.8 billion ($14.4 billion). On this basis DTZ expects turnover for 2001 to be 25% down on 2000

US investors accounted for 45% of all cross-border investment during the first three quarters, and the Germans 20%. The UK remains the most popular destination attracting 38% of investment followed by France at 27%. The fourth quarter of 2001 has also started well with Goldman Sachs and GE Capital participating in the €2.97 billion ($2.7 billion) sale of France Telecom’s property portfolio.

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