European property markets bounced back in 2010 and look set to continue to grow, following a slump during the financial crisis, according to research from property consultancy DTZ.
Invested stock grew 4 percent in 2010, against an 8 percent decline in 2009, the report, “Money into Property,” said. France led the continent with an 11 percent increase in invested stock, while the visibly struggling group of economies, consisting of Portugal, Ireland, Italy, Greece and Spain saw a 3 percent fall.
The UK saw a 1 percent increase in invested stock in 2010, with 4 percent growth forecast in 2011, according to DTZ.
Overall, European transaction volumes grew 64 percent last year, shadowing the global increase of 76 percent, however, DTZ forecasts that the region will overtake Asia Pacific in 2011.
Pricing has become less attractive in core European markets, the report said, but Central and Eastern Europe look likely to become emerging investment destinations, according to DTZ.