The value of European real estate investment of â‚¬ 54.2 billion in 2001 was broadly similar to the amount recorded in 2000. In 2001 total investment volumes matched those in 2000. The drop in cross-border activity was in line with our expectations.
The value of cross-border transactions in 2001 was lower than the value recorded in 2000, but was in line with our expectations. 2001â€™s level remains far higher than the value of cross-border activity in 1998 and 1999.
European cross-border real estate investment, 1998-2001 (â‚¬ billion)
In 2001, cross-border transactions accounted for 34% of total investment (cross-border +
domestic transactions). This compares to 44% in 2000. The drop in this proportion is consistent with the observation that investors focus capital on home markets more than foreign markets during times of market uncertainty. The UK and France remained the most popular destinations for cross-border capital, attracting over 50% in 2001 as well as in 2000. Belgium, the Netherlands and Spain each attracted over 10% of cross-border capital in 2001.
European Capital Markets Research
Jones Lang LaSalle accounts for 40% of direct cross-border market
Jones Lang LaSalle advised on almost 750 real estate sales and acquisitions across Europe in
2001 amounting to â‚¬ 13.2 billion. Of this total â‚¬ 7.4 billion was direct cross-border real estate transactions. This represented 40% of total European direct cross-border transactions in 2001 (â‚¬ 18.4 billion). In the core markets of Germany, France and the UK, Jones Lang LaSalle advised on over â‚¬ 5 billion of direct cross-border transactions, representing 50% of all direct cross-border investment in these markets in 2001.
Jones Lang LaSalle advised cross-border investors from a wide range of countries. German
(24%), UK (24%), American (15%) and Dutch (15%) investors collectively represented three-quarters of direct cross-border capital invested in 2001.