Market: Germany plus UK and Russia “key markets for 2008”
Russia, Germany and Great Britain are the three key property markets in 2008. This is a central statement made by Jones Lang LaSalle (JLL) at this year’s Mipim press conference. Their statement said that Germany has a good chance to be the market with the strongest rent increases in western Europe. For Great Britain, traditionally the biggest investment market, JLL forecasts a 30% to 40% lower transaction volume during the current year. On the London office market, JLL expects an overcorrection, bringing with it very good opportunities for acquisitions. Russia should remain the most dynamic market in Europe. JLL forecasts significant developments particularly for the Russian retail market and for commercial parks in the Moscow region.