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Investment Activity Slows Across Europe

LONDON-Direct investment in commercial property in the first half of 2003 totalled EUR 31.4 billion ($36 billion), 18% lower than the EUR 36.5 billion ($41 billion) recorded during the same period of 2002 according to Jones Lang LaSalle.

By Graham Parker | Updated on August 05, 2003

LONDON-Investment activity is slowing across Europe according to the latest European Capital Markets Bulletin from Jones Lang LaSalle. Total market turnover in the first half of 2003 reached €31.4 billion ($36 billion), down 18% on the €36.5 billion ($41 billion) recorded in the same period of 2002.

But the broker said investment activity would have been higher but for a shortage of available property, caused mainly by fewer developments coming onto the market and a mismatch between sellers’ and buyers’ price expectations. A substantial weight of capital is seeking well-let, income-producing property and is helping to keep yields stable despite falling rental levels across Europe.

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