Atisreal’s Houseview: Outlook 2009 - European commercial real estate markets in the grip of recession

Atisreal’s Houseview: Outlook 2009 - European commercial real estate markets in the grip of recession

Atisreal (BNP Paribas Real Estate) recently published its annual publication presenting the European commercial real estate markets’ tendencies for the year to come.

An extract of the 2009 edition of Atisreal’s Houseview - Outlook

European commercial real estate markets in the grip of recession
From 2007, the US subprime crisis rapidly turned into a fully fledged financial crisis across the world that by 2008 had a significant impact on economic growth. Mistrust took hold and spread with the collapse of the Lehman Brothers, stopping liquidity movement to the economy.

All the economic forecasts made dramatic downturns following the incident. Industrialised countries fell into recession in 2008 and are only likely to climb out slowly sometime in 2009. The annual average economic growth in industrialised countries will be negative over 2009 and less than 1% in 2010. This means that many jobs will be lost over the next two years, further worsening the commercial real estate market.

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