EURO PROPERTY
assets and portfolios. These portfolios include prime assets in all sectors located both in Ile-de-France and across the country.” Paris and the Ile-de-France region
remains the principal target in France, with €5.3bn invested there during the first half of 2012. However, Lyon and the surrounding Rhône des Alpes region represent the country’s second market for commercial real estate, with a total investment of €293m in H1, 2012. In Marseille, investment volume reached
€155m in the city and its Provence Alpes-Côte d’Azur region during the period, while Toulouse and the Midi Pyréné area attracted €67m and
TAP HERE TO SEE VIDEO PROPERTY INFLUENCERS@ MIPIM – HOLGER SCHMIEDING, BERENBERG BANK
Lille and the Nord pas de Calais, €21m. Lille, however, is thought to have some of the best potential, owing to its strategic position near the Belgian border and its high-speed train connections with other French cities as well as with Brussels, London, Amsterdam and Germany. As might be expected, German cities
continue to dominate European investment prospects because, as Emerging Trends in Real Estate Europe 2013, published jointly by the Urban Land Institute and PwC puts it, investors continue to favour safe havens. In the Emerging Trends ranking of 27 cities across Europe, Munich topped the table
of respondents’ expectations for market performance. Berlin was second and Hamburg fifth. Investors were comforted by the strong micro-economic climate and resilient property market conditions in each city, the ULI/PwC said. Demand from occupiers is also strong too and
at the end of 2012 the German office market as a whole recorded the lowest vacancy rate of the past 10 years, according to research by Colliers International. Around 2.8m m2
was let in the fourth
quarter of 2012 in Germany’s five main office markets of Berlin, Frankfurt, Hamburg, Munich and Stuttgart, said Colliers. London is also persistently strong.
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MIPIM’S MAYORAL MIND SET MIPIM’s Mayors’ Think Tank will discuss what the next decade holds for local authorities. The annual MIPIM Mayors’ Think Tank, an invitation-only session, attracts a host of the world’s mayors and top political leaders to Cannes - over 60 leaders from around the world atttend - in order to examine the challenges faced by cities as well as innovative solutions and best practices on urban strategy.
“London has also outperformed historic totals and continues to drive the UK and European markets with activity sustained by a high proportion of foreign investment,” CBRE’s Jonathan Hull says. London is seen by many as Europe’s “ultimate
TAP HERE TO SEE URBAN INTELLIGENCE 6: INVESTMENT IN CITIES
safe haven market”, the ULI/PwC report says, and it rose to third place in the Emerging Trends city ranking. The favourable perceptions of the city are attributed to the size and liquidity of its market, the stability of sterling and its distance from the rest of the UK’s and Europe’s economic issues. The gap between London and the rest of
the country continued to widen in 2012. For instance, IPD’s monthly UK property index found that standard retail values in central London increased by 6.8% in 2012, while regional retail values outside the South East declined by 9.9%.
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