LONDON-Commercial real estate investment in Europe, reflecting seasonal trends, fell in the first quarter by 29% from Q4 2009 to $22.1 billion, but stood fully 65% above the volume in Q1 2009, said global real estate advisor DTZ. Average volumes over recent quarters rose 10%.

The fall was not surprising given the flurry of activity in the fourth quarter as investors rushed to deploy capital before the end of the year, said Magali Marton, DTZ head of continental Europe and Middle East research. “This seasonal pattern has been a traditional feature in the European property investment markets. In fact, the average volume over the last four quarters rose by 10%, and underscores the gradual recovery in Europe’s markets.”

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