The second quarter of 2013 saw European transaction volume of €35.4 billion, according to Real Capital Analytics (RCA), which tracks transactions of $10 million (€7.6 million) or more.

London, with €5.5 billion in transaction volume during the second quarter, was by far the most active market yet again, and the United Kingdom, at €9.2 billion, just barely edged out Germany, at €9.0 billion, for the most active country in Europe. Paris had transaction volume of €2.7 billion in the second quarter; Berlin (€1.2 billion), Munich (€1.1 billion) and Stockholm (€1.0 billion) also had strong showings.

RCA tracked a resurgence of activity in southern Europe; Italy had volume of €1.5 billion, and Spain had volume of €825 million. Year-over-year transaction volume in Spain and Italy was up 524 percent and 475 percent, respectively, in the second quarter, accordi