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Market Reports - 2015
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Going forward into 2015, we welcome the return of the industrial speculative developments and an increase in stock of over 100,000 m2 during the next two years. Cautiousness still prevails, as almost all players looking to build have already secured, or are on the verge of securing pre- lease contracts for their projects. |
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| With 8.3 million sq m of industrial and logistics space transacted in Europe in H1 2015, occupier activity and leasing increased by 9% in one year. This is a remarkable performance given that 2014 was already a record year. Germany was the driver of this activity with 2.9 million sq m leased in H1 2015, a 19% increase year-on-year. The CEE submarket (including Ukraine) also performed well with almost 2 million sq m transacted up to July this year. |  |
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| Coming off the back of an impressive 2014, when the total investment volume was approximately €1.15 billion, placing Romania amongst the top investment destinations within CEE after Poland and the Czech Republic, 2015 saw a relatively slow start. The property investment volume for the first half of the year is estimated at approximately €190 million, which is lower than in the same period of 2014. |  |
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| In recent months we have witnessed an enhanced industrial investment market with EUR 4.2bn of transactions closed in Q2 2015. With almost EUR 9bn closed in H1 2015, the performance of H1 2014, a record year, was almost equalled. Domestic players remained dominant but non-European investors and North- Americans in particular, showed a growing interest for this asset class. At the end of Q2, prime yields hit their historical low in almost 4 markets out of 10. |  |
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