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European transaction volumes fall in the major property markets
In the first quarter of the year, transaction volumes were down in almost all the major property sectors in Europe, in part due to weakness in dealmaking in the second half of 2022, according to the Q1 Europe Capital Trends report from MSCI Real Assets. The transaction volume change was -62 percent year-over-year.
According to the report, the quarterly total of €36.5 billion ($40 billion) was the lowest since second quarter 2012.
Fewer offices traded in the first quarter than ever before (the previous low point was in third quarter 2009), and transaction volume was at a 13-year low. MSCI said factors such as changing occupier requirements, the rise of the hybrid workplace and legislation concerning energy efficiency are influencing investment activity, and the data imply a strong preference for quality in