Commercial real estate transaction volume in Europe is resisting the slide seen across the Americas and Asia Pacific in the first 150 days of 2020 due to a string of multibillion-euro deals. The latest Real Capital Analytics data reading indicates that transaction volume for Europe, Middle East and Africa (EMEA) is just 6% lower than 2019 levels, while in the Americas volume is 18% down and in Asia Pacific activity is 45% lower.
The volume of portfolio deals and entity-level deals in EMEA in the first 150 days of the year has surpassed that of the same period in 2019. Notable recent deals include Blackstone’s purchase of U.K. student housing portfolio iQ which closed in May. In the first quarter of the year, Aroundtown’s purchase of fellow German listed property company TLG added close to €5 billion ($5 billion) to the region’s tally.
In the Americas, the fallback in deal volume is deepening as the year progresses. At the end of April cumulative deal volume for the Americas was 3% lower. APAC activity has been consistently depressed since the start of 2020. Despite the easing of lockdowns and hopes for a rebound in China, the uncertainty remains, with fears of a second virus wave and additional political tensions.
Looking at the number of completed transactions, all regions have dropped by just over a third versus the previous year.
To learn more about the data behind this article and what Real Capital Analytics has to offer, visit https://www.rcanalytics.com/.
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