Real estate slows in EU and USA

The commercial property industry struggled across much of the rich world in the third quarter, according to a report from the Royal Institution for Chartered Surveyors out yesterday. A weak global economic outlook is largely responsible, with most real estate industries in a majority of countries reporting declining investment enquiries and new development starts. European developers reported particularly weak figures – a net balance of 48 per cent in France reported fewer development starts, compared with 24 per cent in Italy and 13 per cent in the UK.