 | Moscow and Istanbul 2008's top real estate markets in Europe 17-03-2008 According to the real estate forecast 'Emerging trends in real estate Europe
2008', conducted by the Urban Land Institute (UIL) and PricewaterhouseCoopers,
Moscow and Istanbul are ranked first and second respectively among this year's
top real estate markets in Europe. The analysis illustrates that the changes in
the top markets suggest a desire by industry professionals to branch out of “Old
Europe” cities and “investigate new markets and diversify current holdings and
developments.”
One of the sharpest rating drops among the European markets occurred with
London, a long-time favourite that fell to 15th place for investment prospects
and 13th place for development prospects. That city, more than other markets in
the report, is experiencing declining economic conditions similar to those in
the US, including a drop in consumer spending, falling house prices, a rise in
personal indebtedness, worries over home repossessions, and turmoil in the
financial sector.
Emerging Trends, which covers 27 markets in countries throughout Europe, is
based on surveys and interviews with nearly 500 of the industry’s leading
authorities. The report contains predictions for individual property sectors as
well as markets, along with insights regarding real estate capital markets and
the economy in general.
Source:
City
Mayors
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