London Calling…: And Investors Are Answering the Call
It comes as no surprise that, in times of turmoil and uncertainty, investors pull back into their safety zones. With overall investment in the EMEA region still down approximately 75 percent from its height in 2007, it’s obvious that, for some, being safe means stuffing their available capital under their mattresses and not investing at all. But for others, who still want to invest but want some security, it means focusing on the largest, most commercial property markets in the world, which tend to be the capital cities.
And the most attractive of all the attractive capitals in this period has been London, which captured 27 percent of all global cross-regional investment transactions during 2009 and the first half of 2010, according to CB Richard Ellis Research. In the third quarter of 2010, office transactions in London alone totalled £1.7 billion (€2