European commercial real estate deal making fell to a 13-year low at the start of 2024, as fading hopes of imminent interest rate cuts prolonged the slump in property markets.
Transaction volumes of €34.5bn in the first quarter were 26 per cent lower than the already depressed levels in the same period last year, the seventh successive quarter of declines, according to data from MSCI released on Thursday. Fewer offices buildings changed hands than in any quarter on record.
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