Yield falls not derailed by the slowdown in investment

Solid economic growth in both Western and Emerging Europe appears to have continued into Q4. This kept expansionary activity amongst occupiers at strong levels. This, in turn, has driven vacancy rates lower almost across the board in the last 12 months, although rental growth was not particularly widespread this quarter. Although investment has softened slightly, it remains close to record highs and has maintained downward pressure on prime property yields.