Aug 06, 2012 11:52 CEST CBRE European Valuation Monitor Q2 2012
CBRE comments on the findings of its Q2 2012 European Valuation MonitorAug 06, 2012 11:52 CEST
Commenting on the Q2 2012 European Valuation Monitor, Andrew Barber, Senior Director, Valuation Advisory, CBRE said:
“Overall, real estate values edged lower across Europe in Q2 – by just 0.9%. This relatively flat performance masks a deepening polarisation not only between individual markets, but also between prime and secondary assets for which the yield gap is widening. We continue to see managed asset disposals by banks, something likely to gain in momentum in the short to medium term, giving further transparency on pricing, particularly of secondary assets.
“Compared to Q1, German capital values remained stable; with France, the Nordics and the CEE all posting sub 1% declines for the quarter. Year on year, France remains the strongest performer posting 2.2% growth - however we expect this performance to level out by the year end.
“On the other hand, our Monitor continues to track significant falls in the Southern Europe and Ireland grouping – albeit that the Irish market has recently shown signs of bottoming out.
“We anticipate values will remain stable for prime assets in core countries, and to continue to fall back for those that do not meet these criteria, where the lack of available financing particularly places ongoing pressures on the market.”