The Wall Street Journals notices that US investors have fled Europe’s real estate. Seems fair to say that so has just about everyone else, but it’s an interesting read nonetheless.
In the first half of this year, U.S. investors spent €407 million ($581.7 million) on commercial-property assets in Europe, down 98% from the peak of U.S. involvement in the first half of 2007, when Americans invested €20.7 billion in European property, according to a report by property-services group CB Richard Ellis.
Of course, it also notes that back in 2007, US investors made up 16% of all transactions, 9.1% in 2008 and just 1.6% over the first half of 2009. Ok – fair point. All of this on the back of CB Richard Ellis numbers, by the way.