The pace of decline in capital values accelerated in the first quarter with countries in both Western Europe and emerging Europe hit by price falls, according to RICS' latest global property survey.
France, the Netherlands and the Republic of Ireland saw capital values drop significantly, with real estate professionals in these countries the most pessimistic regarding the near term price outlook.
Respondents expect little easing in the pace of price declines in these markets, although some moderation in price falls is expected in Spain and the UK.
