CEE will show best retail returns in 2008, says ING RE

ING Real Estate expects to see the best retail returns for 2008 in Central and Eastern European shopping centres, with strong rental growth likely to continue in France, Sweden and Finland. Good rental performance is also expected in the Netherlands, Italy and Germany, the real estate giant said in its 'European Retail Views' presented at the Mapic retail fair in Cannes this week. In the UK, however, retail rental growth has halved over the past twelve months due to a consumer cooldown and oversupply, and an improvement is not expected for another year or two. The outlook for Swiss retail is 'somewhat bleak', with purchasing power falling as a result of rises in compulsory purchases (such as taxes and insurance) outstripping average wage increases.

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