PARIS-The local region investment market is continuing to recover and should grow further in 2011, Jones Lang LaSalle said in a report. "It is particularly benefiting from the good health of the rental market, from the availability of liquid funds ready to be invested, from improved access to finance and an increase in arbitrage decisions," JLL said.

Investment rose 65% to $6 billion in the first nine months and JLL said it is likely to reach up to $9.5 billion for the full year.

Insurance companies and pension funds are particularly active as they seek investments with a better yield than government bonds, and opportunistic and value-added investors have also returned to the market. Meanwhile, the market is becoming more international again, with US, South Korean, Kuwaiti and Qatari investors in evidence, while German funds, who are traditionally buyers, are now also very active as sellers. One distinctive feature is the revival in the off-plan sales market, with some $508 million of off-plan sales concluded so far this year, compared with $395 million in the whole of last year.