Leaseback Market in Europe Growing, says CB Richard Ellis
BRATISLAVA, December 21, (SITA) -- The popularity of sale and leaseback of premises in Europe is booming, as shows a report by the real estate consulting company CB Richard Ellis. While in 2004 sale of real estate and their leaseback represented a mere six percent, this grew to 19 percent in 2008, thus becoming the key part of the real estate market. In H1 2009, it represented as much a 51 percent of all transactions, reported CB Richard Ellis.
Director of the company's corporate strategies department John Wilson informed that the market of sale and subsequent leaseback is booming due to the cautious behavior of investors. Mr. Wilson maintains that these transactions bring long-term and guaranteed incomes and often relate to the company's core activities. A similar attitude has spread throughout several European countries and penetrated various market segments, said Wilson. CBRE's director in Slovakia Joerg Kreindl said that they have not yet traced similar developments in Slovakia. "We expect this trend to come much later, in 2010-2011," he specified.
