More than half of Jones Lang LaSalle's $11.6 billion in volume last year involved cross-border deals, the firm says. The total value of all European commercial real estate deals was more than $47.4 billion last year, Jones Lang LaSalle says, with one-third being cross-border deals.
The nearly $16.2 billion in cross-border deals was about what Jones Lang LaSalle expected given market uncertainty. Although capital tended to stay home last year compared to 2000, the 2001 cross-border volume was 84% higher than 1999.
The biggest players were investors from the UK and Germany, who each accounted for 24% shares of the market. After that, investors from the US and The Netherlands each made up 15% of the market.
One change in 2001 involved the top destination of foreign capital. The UK received 29% of it, followed by 22% flowing into France. That was an exact reversal from 2000. Meanwhile, Spain, Belgium and The Netherlands each garnered 11% of cross-border investment dollars in 2001, with the latter two countries doubling their shares from the previous years.
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