European commercial property values flatMonday 22 August 2011 12.47
A report published today shows that growth in the European commercial property market slowed in the second quarter of this year.
Figures from property services firm CB Richard Ellis showed that average values were up 0.1% during the quarter, following growth of 0.4% and 1.2% in the previous two quarters.
The second quarter performance was boosted by 0.8% growth in the retail sector. Retail property values in Europe are now 3.5% ahead of a year ago. Office values dropped 0.2% in the second quarter, while industrial values fell 0.6%.
CBRE said commercial property values in Ireland and southern Europe fell during the quarter.