European Real Estate Markets Comparison

Abstract

Recent published reports on the real estate investment market stated that the global investment market activity has expanded significantly, and the growth is becoming more visible in the last a few years (Axa Real Estate, 2013; CBRE Global Investors, 2014; DeAWM, 2014a; DTZ, 2014; Cushman and Wakefield, 2014a; RCA, 2014). Indeed, the highest global total recorded since 2007, delivering an annual total transaction volume of USD 1.18 trillion in 2013 with investment activity and values picking up as recessions ended, business sentiment rallied and increased liquidity lapped the shoreline of the most global markets (RCA, 2014). This strong position helped to increase rents and capital values and to push prime yields back down to the pre-crisis levels. Globally, all regions saw a positive trend over the recent few years, but developments within each region became more diverse (Figure 1.1).