Retail investment shifts to noncore European markets
Europe’s noncore markets are experiencing a significant rise in retail investment as retail investors shift their interest to some of the continent’s noncore markets, according to Savills.
Investment in Europe’s retail sector during the period from first quarter 2016 to third quarter 2016 reached €33.3 billion ($35.1 billion) across the 15 markets that Savills covers, down 28 percent from the 2015 record volume. However, despite the overall drop of total turnover in the two largest markets — the United Kingdom, down 18 percent, and Germany, down 46 percent — during this time period, in contrast Europe’s noncore markets have experienced a significant rise in retail investment. These include Ireland (up 223 percent to €1.46 billion/$1.54 billion); Poland (up 126 percent to €1.4 billion/$1.48 billion) and Italy (up 119 percent to €1.8 billion/$1.9 billion).
“The strong performance of some noncore