European property investment remains robust
European real estate markets are continuing to display strong momentum, particularly on the investment side, according to the results of the third quarter 2016 RICS Global Commercial Property Monitor. Meanwhile, feedback remains cautious across much of Asia and the Middle East, reflecting challenging macroeconomic conditions.
The monitor shows property remains particularly cheap in cities such as Athens and Lisbon at present, while New York City, Tokyo, Zurich, Geneva, Brussels, Munich, Toronto and Paris are considered expensive. European markets posted 11 of the top 12 Investment Sentiment Index readings in third quarter 2016, including Munich, Frankfurt, Berlin, Madrid and Budapest. Many of the markets are supported by good economic conditions and benefit from the actions of the European Central Bank. Germany retained the No. 1 ranking for the Investment Sentiment Index. Also, New Zealand, France, Czech Republic and Austria all posted strong index readings.