Europe’s Property Recovery Stalls as Uncertainty Bites

A rebound in European property dealmaking that was gaining momentum has been halted in its tracks as buyers and sellers take stock of the volatility unleashed by US attempts to reorder global trade.

Deal volumes dropped 11% in the first three months of the year, reversing a recovery that took hold last year, according to a report published Thursday by MSCI Inc. Just €41 billion ($46.4 billion) of commercial real estate was transacted in the first quarter, the least since the nadir of the interest rate induced correction in the third quarter of 2023 and the second-lowest quarterly reading since 2012.