Spain's banking crisis shattered confidence in southern Europe's property market last quarter, pushing the value of transactions to below half that seen in the aftermath of the collapse of Lehman Brothers, property consultant CBRE said on Wednesday. A total of 725 million euros ($885 million) of deals for shops, offices and warehouses was done in Italy, Portugal and Spain in the three months to June, compared with 1.6 billion in the first quarter of 2009 when world markets were still reeling from the collapse of the U.S. bank in October 2008.
Wednesday, July 18, 2012
SOUTHERN EUROPE'S REAL ESTATE MARKET COLLAPSING
Posted by Reliapundit at 8:02 AM