European retail markets are still doing well despite declining economic momentum, reported Union Investment Real Estate.
The Global Retail Attractiveness Index (GRAI) for the 15 biggest retail markets, which is compiled jointly by Union Investment and GfK, again fell slightly by 5 points compared with the previous year. But at 108 points it still remains significantly above the long-term average. Among the stabilizers are the major economies, which continue to make Europe a safe haven for real estate investors overall. Germany experienced only a slight decline (down 5 points) compared with fourth quarter 2018 and remains the strongest retail market with 116 points, while Italy demonstrated its renewed robustness with an unchanged 110 points. France improved and is the only country among the European top 15 to record an increase (rising by 6 points). The index lost some ground in the United Kingdom, Denmark and Sweden as a result of weaker growth.
Overall, however, the
