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German Funds Push European Investment Close to Record Levels

LONDON-Despite the geopolitical uncertainty at the start of the year, a late surge in activity pushed European real estate investment turnover for 2003 to Eur 80.6 billion ($100 billion), according to Jones Lang LaSalle. This is only 8% below the record turnover seen in 2002.

By Graham Parker | Updated on February 06, 2004

LONDON-Figures for the year-end 2003 show European property investment activity came close to matching the record levels seen in 2002, according to Jones Lang LaSalle. The agent calculates that market turnover reached €80.6 billion ($100 billion), 8% down on the previous year, despite a turbulent economic and political climate.

Cross-border investment flows increased by 10% to €38.4 billion ($48 billion). Cross-border rose sharply as a proportion of total investment, from 40% in 2002 to 48% in 2003.

The UK was again the most active market, accounting for 50% of all activity. And the Nordic region (Sweden, Denmark and Finland) overtook France as the second active investment market after the UK, due primarily to strong activity from foreign investors in Sweden. The region accounted for 12% of total investment compared to 10% in France.

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