French commercial property market worse than Greece

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The most recent figures from the Royal Institution of Chartered Surveyors Global Commercial Property Survey indicates that the European commercial properly market is in decline across the continent, with France providing the most bleak outlook.

With negative expectations for figures relating to both rental income yields and capital values due to come in for the last quarter of 2012, the state of the domestic commercial property market in France is getting worse at a rate that falls below even those of Greece and Spain, who are widely acknowledged to currently be the hardest hit in the ongoing Eurozone crisis.

Across Europe in general figures for tenant demand were in decline and therefore rents were reported as stagnant or falling, with the outlook remaining unappealing for investors in the short term.

Germany and Russia both came out on top when it comes to the commercial sector, with Russian supply and demand problems continuing to fuel a rise in rentals for prime space properties.

As with much of the general economic trends in Europe, Germany continues to be an exception with the strength of its own economy providing strong occupier demand and consequent investor interest in commercial properties.

With overall financial market conditions showing some signs of improvement in the Eurozone and some commentators believing that the worst of the crisis is now in the past, there has been a significant compression in Eurozone sovereign bond spreads.

Private sector lending still remains at low levels and this has a knock on effect for capital value expectations.

The survey does show that there is some improvement in investor interest in countries such as Ireland, Scandinavia, Switzerland and Belgium, and that this is directly a result of the European Central Bank's Outright Monetary Transaction programme.

Commercial property can be a solid investment, especially when it comes to overseas transactions, but as with any deal involving currency exchange rates, using a specialist broker will save you money.

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French commercial property market worse than Greece

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