The full force of the credit crunch is now being felt by the European commercial property market, consultant Cushman & Wakefield (C&W) said in a new research report released on Tuesday. Investment volumes in the first three months of 2008 fell 37% compared with the year-earlier period, while yields rose at their fastest rate since 1992, the report said. With confidence shaken and uncertainty over pricing impacting almost as much as the lack of affordable debt, the market is ready for more to come, C&W said.
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