European retail real estate investment is up 38% quarter on quarter to €6.7 billion with demand for prime retail to remain relatively strong during the last quarter of the year, according to a new report.
The third quarter report from Jones Lang LaSalle says that 2011 year end volumes are likely to exceed €28 billion, up by 35% on last year and significantly above the €12.3 billion recorded in 2009.
It reports that retail real estate investment remained strong throughout the summer, despite the volatile European recovery and economic headwinds that continued to face the sector. Direct investment in retail real estate in Europe during the third quarter of 2011 reached €6.7 billion, up from €4.9 billion in the second quarter of 2011 and significantly up on the €3.8 billion transacted in the third quarter of 2010.
Total investment volumes for the year to date now stand at €20.4 billion, up by 45% over the same period last year, almost on a par with total 2010 volumes and far exceeding full year volumes of €12.3 billion in 2009.
Source: Property Wire