Global real estate adviser Cushman & Wakefield will issue a report later this month that casts European real estate - if somewhat cautiously - in a sunny light, despite the gloom and doom of recent months. ‘A total of EUR 62.8 bn of commercial property was traded in Europe in the third quarter of 2007, 23% ahead of the same period in 2006,’ according to the report. But despite strong activity and buoyant rental growth, a clear change has taken place, with investment yields rising for the first time since 2003. Cushman & Wakefield expects investment volumes to total EUR 235-240 bn for 2007 (against EUR 236 bn in 2006) as a result of strong investment activity so far this year. The outlook is for investment activity to slow into 2008.
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