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CEE Property Transactions Climb in Q1 2011

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EUR  Jones Lang LaSalle  eastern Europe  retail  Commercial Property Performance 

CEE Property Transactions Climb in Q1 2011

By - Tuesday 03 May 2011

Commercial property transactions in Central and Eastern Europe (CEE) reached EUR 1.85 billion in the first three months of the year, according to a recent report from property consultants Jones Lang LaSalle.

The firm reports that sales were spread across the office, retail and industrial sectors which saw 40 per cent, 28 per cent and 26 per cent of the total transactions respectively. Investment almost tripled compared to the first quarter of 2010.

"We have seen increased buying opportunities across all sectors, and this is set to continue with a number of investors now having decided that this is the right time to sell," said George Lewis, head of capital market at Jones Lang LaSalle.

The trend is expected to continue throughout the year, with the 2010 CEE investment total of EUR 3 billion expected to be surpassed by a considerable amount, reaching up to EUR 4.5 billion for the year overall, the consultancy noted.

JLL said that this is due to transactions that were held over from 2010 as well as owners deciding to bring properties on the market this year.

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