Investors 'returned to European commercial property market in 2009'
Investors are returning to the European commercial property market at the highest levels since 2008, according to a new report.
Commercial property specialist CB Richard Ellis released data that revealed a 42% increase in investment turnover in the third quarter of 2009.
Of the 26 markets which were monitored, 17 reported that quarter 4 was the busiest of the year. The third quarter increases brought the total level of turnover in the European commercial property market in 2009 to 70 billion euro (£61,157,597,989).
The UK saw a 64% increase in investment in the second half of 2009 compared to the first. While this is below the European average it shows that the UK market began to recover quicker.
Jonathan Hull, from CB Richard Ellis, told Property Magazine International that during the first half of 2009 most markets were dominated by local investment, however this "saw a significant reversal" in the second part of the year as capital flowed in from international investors.
A report released in December by Prime Location International revealed that interest in overseas residential property was also returning to pre-recession levels.
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