A research produced by
Cross-border investing increases opportunities to diversify and, despite expectations of economic convergence, these are not being substantially eroded.
European country-specific risk is now showing a greater dispersion than previously, which cautions against the southern European markets because of inadequate de-pricing to date.
The mature core markets of France, Germany and the UK have the best liquidity and are amongst the best in terms of transparency.
Different economic and property-related factors explain the diversity of performance in both the office and retail sectors of the European markets, and uncertainty is currently high.
Foreign exchange can be a significant upside and downside risk over the short-term.
Source : AXA Real Estate
