European transaction volumes were down by 1 percent in the first nine months of 2024 when compared with the same period in 2023, according to MSCI’s Europe Capital Trends report on the third quarter of the year.

The volume of completed transactions in July through to September declined 2 percent from a year earlier to €39.2 billion, taking transaction volumes to €130.9 billion at the end of the third quarter of 2024.

In the United Kingdom and Ireland, volumes rose 4 percent in the third quarter from a year earlier to €11.3 billion, led by industrial, hotel and residential property transactions. Overall, investment activity for the first nine months of 2024 increased by an annual 11 percent to €39.5 billion, with the United Kingdom being Europe’s most active investment market for commercial real estate, exceeding the combined transaction volumes of Germany and France, the second- and third-ranked markets, respectively. London was the top investment destinati