|
In the 1960s and '70s, Britain was often referred to as “the sick man” of Europe, so dysfunctional had its economy become. Today, the London and UK real estate investment market is looking ill next to its large European rivals in Germany and France, partly due to its response to the actual virus afflicting the world.
The €33B (£30B) invested in Germany in the first half of the year was 50% higher than the €22B invested in the UK, according to data from Real Capital Analytics. The perception is that for many months, capital markets were closed around the world as a result of the coronavirus pandemic, but Germany’s figure represents a 16% increase in deals against the same period last year, compared with a 15% drop in the UK. The market there is very much open, with Germany accounting for 30% of all European deals, an increase on the long-term average.
London also fell behind Paris in the ranking of city investment in the first half, with €10B invested in the French capital vs €9B in its UK equivalent. While France has also been badly affected by COVID-19 in comparison to…
Read the full story here.
|
