Euro property deals set to soar

European real estate transaction volumes could rise as much as 30 percent to around 90 billion euros ($124 billion) this year as credit markets thaw and prices stabilise, according to a report by broker Jones Lang LaSalle.

Appetite for commercial property is returning, with 24.6 billion euros of deals done in the last quarter of 2009, more than double the 11.6 billion euros in the first three months of the year, the report said.

"The growth we are expecting to see this year will be fuelled by an improvement in the availability of debt, the recognition that pricing has probably hit or even passed its floor, slightly more appetite for risk-taking, and more assets coming to the market," Jones Lang director Chris Staveley said.

Revival in confidence

The data, published on the eve of MIPIM, Europe's largest property trade fair, highlighted a revival in confidence among key real estate players after a two-year decline.

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