European real estate investment crash to be short-lived in 2020

by   CIJ News iDesk II
2020-05-28   10:57
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European real estate investment activity is set to plummet by 50 percent before rebounding sharply within the next 12 months, according to Savills, which is predicting that neither the speed or the depth of the crash will be as bad as the global financial crisis, when volumes across the continent plunged by 72 percent between 2007 and 2009. Savills recorded that more than €70.6bn worth of real estate was transacted across Europe in the first quarter of the year, which is 25 percent above the five-year average, with 61 percent of this activity attributed to cross-border capital. Despite the spread of the pandemic across the continent, Savills has observed that on most European markets there are indications that investors remain active particularly in the prime market segment, with several deals in progress and minimal price discounts.