Germany tops U.K. as most active European property market
The United Kingdom has dropped to second place behind Germany in the ranking of Europe’s most active markets for commercial real estate investment in third quarter 2016, according to Real Capital Analytics.
The total value of commercial property transactions completed in Europe during the third quarter was €46 billion ($50.2 billion), a 38 percent drop from a year earlier. European investment volume for the first nine months of 2016 was €163 billion ($178 billion), 29 percent lower than the same period in 2015.
It is the first time Germany has occupied the top spot since 2012, as uncertainty following the Brexit referendum to leave the European Union weighed on the U.K. market.
The U.K. market registered a 51 percent slide to €10 billion ($11 billion) of completed commercial property transactions in the third quarter compared with a year earlier, according to RCA’s data. The pound’s depreciation amplified the drop. It