Another report suggests that the Paris commercial property market is top in Europe.
A few days ago, Consorto reported how Paris was ranked top for commercial office investment by Allianz Real Estate.
Now, Real Capital Analytics (RCA) says the French capital has overtaken London as Europe’s number one commercial property market.
Paris commercial property market top on 17.2%
The Paris commercial property market reached 17.2% in the first nine months of 2019, according to preliminary RCA data. London is close behind on 16.9%. Berlin, Germany, is in third place with 8.2% followed by Madrid, Spain, on 6.9% and Stockholm, Sweden, with 5.3%.
It is a similar picture for asset classes, where the Paris office sector also leads on 13.7%, with London offices on 10.4% in second and Berlin office third with 4%. Munich is again fourth with its office sector and the only apartment entry is Madrid on 3.6% in fifth.
However, the top country is Germany on 41.8%, followed by the UK (37.6%), France (23.7%), Netherlands (14.1%) and Spain (12.4%).
Tom Leahy, Senior Director, EMEA Analytics at Real Capital Analytics says, “The U.K. had already lost its status as the largest European country for investment activity to Germany in 2016, but until this year London had held on to its position as the top market.
“London’s downgrade is also reflected in the wider U.K. market, where volume for the first three quarters of 2019 has fallen by close to 30% year-over-year. This puts the U.K. in second place behind Germany in the list of most active countries. Investment volume fell in Germany too during the first three quarters of the year, but by a smaller margin.”
In the Quarter 2 European Capital Trends Report, UK acquisitions were down 46% year-on-year. They also fell 22% in the Netherlands and 11% in France. The biggest rise came in Spain at 101%, Belgium (86%), Sweden (46%), Italy (40%) and Poland (32%).