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Investment in Europe RE Should Rise 15%

BERLIN-Germany, the Nordics and central and eastern Europe will be of particular interest, according to CBRE, though Greece, Spain and Portugal are still possible trouble spots.

By Allan Saunderson | Updated on February 16, 2011

BERLIN-Investment in European real estate should rise another 15% this year after it soared 35% in 2010 to reach $132 billion, according to realtor CB Richard Ellis. In a new report it predicts that Germany, Nordics and central and eastern Europe will be of particular interest – and pinpoints Greece, Spain and Portugal as countries where stretched government finances will significantly impair interest.

“Sovereign debt risks, volatile bond markets and fiscal austerity will be potent influences on Europe’s economic weather in 2011, with clear potential for squalls and storms to affect the progress of recovery,” said Peter Damesick, a chief economist for CBRE. European retail is identified as an attractive sector, as investors search for prime stock in core European countries. This trend has been prominent over the past two years and looks set to continue at the expense of office. Large regional shopping centres will be a major focus.

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