Munich the top European city for real estate
October 05, 2009 - Bavaria
Munich has emerged as the most attractive European city for property investment for real estate investors, a report said on Monday.
LondonLaSalle Investment Management said its annual European Regional Economic Growth index showed the German city can best withstand the current economic turmoil, due to strong wealth levels and diversified local and global businesses.
Munich is the first German city to top the annual index ranking.
Formerly number one in the list, London remained in the top 10 but came behind other northern European cities such as Stockholm, Oslo and Luxembourg.
Paris has retained its second place and is only marginally behind Munich.
"Paris is a major hub of administrative, economic and financial activity in France. It also serves as an important transport and logistics centre in France" the report says.
It is countries where property bubbles were most inflated that have suffered the most.
Cities in Spain and Central and Eastern Europe have plummeted down the rankings as they pay for their financial imbalances and recent overheating.
The study is based on a range of indicators, ranging from relative wealth, growth levels and business across 98 European cities. It aims to identify the cities in greatest demand among occupiers and investors over the medium term.
report, real estate market, Top 10, Munich, LondonLaSalle Investment Management, ranking