The French market saw a total EUR 3.7 bn of investment in commercial real estate during the first quarter of 2008, about half the amount that was invested in the same period a year ago, according to a report released by real estate adviser CB Richard Ellis. The slowdown which started in the Ile-de-France region at the end of 2007 continued in 2008, with just EUR 2.3 bn worth of transactions recorded in the first quarter compared with a quarterly average of EUR 5bn in 2007. The drop was particularly noticeable in the well-established business districts of Paris and La Défense, while regional markets in the country seemed less affected by the downturn with investments totalling about EUR 1.2bn.
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