The volume of retail transactions in Continental Europe has dipped in the third quarter of 2007 to €7bn (£4.9bn).
Despite the fall, the figure is still the third largest transaction volume recorded, according to figures released by Jones Lang LaSalle at this year’s MAPIC retail conference, which opened in
The total volume of shopping centre deals in the first nine months of the year reached €19.2bn (£13.5bn), reflecting a 20% increase on the same period last year.
Richard Bloxam, a director in JLL’s European Retail Capital Markets team, said: “The market in the first half of the year was characterised by a broad deal base attractive to both equity and leveraged buyers and right across the continent geographically.
“While transaction volumes were high in quarter three, the number of transactions fell slightly, as the credit crunch led some investors to take more time to consider and close deals. This is particularly the case for portfolio and leveraged transactions where margins have been reassessed.”
Fellow director Jeremy Eddy added: “The decreased availability of debt and the re-priced lending terms will have an effect through the last quarter of 2007 with reduced volumes.
“We are experiencing reduced buyer numbers on sales, however pricing remains stable for prime product. We would expect any re-pricing to be on secondary properties.
“We expect 2008 to be characterised by corporate activity, and a stabilisation of pricing due to a greater balance between availability of product and investor demand.”
The Nordics has also remained popular, with
