There is no speculative bubble on the European real estate markets: this is what emerges from the 'Emerging Trends in Real Estate Europe 2004 survey', the first edition of which was presented today by PricewaterhouseCoopers and ULI. The report, which focuses on institutional investors and which has been drawn up for 25 years in the United States, was this year extended to the European market for the first time through targeted interviews with 210 protagonists of the Real Estate sector. From the study - according to a note - which analyzes investment opportunities on the real estate market for the 27 most important European cities, it emerges that large institutional investors generally have confidence in the European real estate market.
Moscow appears to be the European city that offers the best investment opportunities. Of all the operators interviewed, 60% recommend purchasing properties in Moscow and only 25% recommend selling. Prague comes in second place in the European ranking, followed by Brussels, Budapest, Helsinki, Warsaw and Copenhagen. In last position is Berlin. For Italy, the markets of the two main cities, Milan and Rome, were analysed. Both cities are located halfway within the ranking of European cities and are considered at a medium level both in terms of growth and development prospects and in terms of absolute return. Of particular attraction are the development and renovation projects which could also allow Italy to have a more competitive offer of properties in line with international standards. Milan will continue to attract international investors in 2004, despite the fact that there is a shortage of available commercial spaces compared to the level of market interest. The expected return for 2004 is 5.5%.
source: AGI online
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
Cadoneghe (PD) - 35010 - Via G. Franco, 2/A
e-mail: cadoneghe@grimaldifranchising.it
tel. +39 049 88 736 56 - VAT number 05322440289