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Online Getting Estimate Value Of The Apartment

Even with the available capital ready to be spent in Europe, the economy and general market climate have slowed actual transactional activity. Investor caution is equally evident. Investors and owners alike are watching the direction of rental growth and vacancy levels.

Construction completions and property valuer Melbourne have slowed due to the weakened market for the product, however, a number of signature developments were completed in 2002 such as Coeur Defence (Paris, 182,000m 2 ). 2003 will again see cautious development activity where substantial pre-lets have been agreed prior to construction. Speculative development will be more restrained in 2003 as developers remain hesitant about adding the stock to a market where there is slowing demand. There remains, however, an unfilled key-market demand for prime quality, prime location new build product. This is primarily due to the imbalance caused by an inability to supply such product in desired locations due to space restrictions, planning codes and covenant restrictions.

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Prime rents across Europe in 2002 generally softened and then stabilized in the second half of the year. Most key markets experienced some rental decline during a period in which the property markets adjusted to economic conditions Online Real Estate Valuation A few markets experienced rental growth such as Lisbon, Leeds, and Milan. The smaller, secondary Euro Zone markets tended to produce stronger results with respect to rental growth in 2002. The diversity of many European markets means that multiple rental cycles at various stages will be evident at any one time.

While overall trends are pointing towards a flat profile in market rents in 2003, there are other markets that are still in decline such as Madrid and others that have not yet hit their peak such as Milan.