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Q1 2009
European Investment Bulletin
- The interbank market remains nervous, reflected in the lending rate margin above the Euribor rate. In most markets the spread has more than doubled and LTV rates have dropped compared to a year ago keeping investment activity subdued.
- The risk premium for prime CBD offices over the long term interest rates has risen compared to the height of the capital markets in 2007. However, it is overall still lower compared to the previous slump of investor confidence in 2003.
- Property is beginning to look better value especially where re-pricing has been stronger such as in the office markets of London, Paris, Madrid and Dublin. London in particular, due to the exchange rate is even more attractively priced in terms of Euro currency.
CONTATTI
Eri Mitsostergiou +30 210 6996311
emitso@savills.com
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