Economic growth appears to have slowed in much of non-euro Western Europe in Q1, but maintained a solid pace in Emerging Europe, with the major exception of Russia. Russia’s troubles are also evident in property investment volumes. The sharp drop in Russia contrasts with the picture elsewhere, where investment volumes are noticeably higher than this time last year. As a result of that increased competition for property, in Q1 many Emerging and Western European markets recorded falls in yields.
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