JLL: QII investment growth slower in EMEA

Investment was up in QII 2011 compared to the same period a year ago, but JLL notes it was a climb-down from the giddy heights of Q1. “Direct real estate investment volumes in Europe during the second quarter of 2011 (Q2 2011) reached €24.8bn, reflecting 4% growth compared with the equivalent period last year.” Robert Stassen, Head of EMEA Capital Markets Research at JLL, suggest Q1 might have been a slight aberration.

“The first quarter of this year saw some exceptionally large deals completing, including the sale of the UK’s Trafford Centre (€1.9 billion) and the Centro Shopping Centre in Germany (€650 million), but this momentum did not continue during the second quarter. Although this would explain much of the quarterly volatility, tight supply of product, particularly in the popular Central London market may also have held back investment volume growth.”

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