Germany led a dramatic fourth quarter decline in real estate transactions across Europe, according to new figures from MSCI Real Assets.
The volume of completed transactions across the continent fell by 66 percent to €53.9 billion ($58.6 billion) in fourth quarter 2022 compared with the same period a year earlier, with all the major real estate sectors registering declines.
MSCI Real Assets' Q4 Europe Capital Trends report shows investment volumes in Germany fell by 84 percent in the fourth quarter from a year earlier, to €9.7 billion ($10.5 billion). The decline for the year was 55 percent, taking Germany’s annual volumes to €51 billion ($55.4 billion) — a nine-year low. The drop means the United Kingdom has returned to its place as Europe’s largest commercial real estate investment market, even though U.K. investment volumes fell 61 percent in the fourth quarter from a year earlier to €11.5 billion ($12.5 billion), and the number of properties
