(To read more on the debt and equity markets, click here.)
CANNES-Record European investment activity in 2006 lays a positive foundation for the months ahead. That was the upshot of this edition of the market analysis CB Richard Ellis holds every year at Mipim.
There was a 46% year-over-year increase in investments, reported Nick Axford, who heads European, Middle East and Asian research for CBRE, bringing the 2006 total to 227 billion euros. Some one-third of that total played out in the UK, which, along with Germany and France, accounted for three quarters of the trades.
Cross-border trading also took a healthy hike in 2006, with 100 billion euros worth of foreign capital pouring into various European countries. Cross-border deals within various European countries increased by 50% while the amount of capital from non-European countries doubled. Australian investors came into the continent in a big way in 2006, with 5 billion euros invested here, Axford said. He indicated that the levels of investment should not see a major change through the rest of the year.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
