European property-loan sales seen rising 65%

[LONDON] European property-loan sales will rise 65 per cent to a record 50 billion euros (S$86.5 billion) this year as improving economies in the region prompt investors to set aside more money for deals, Cushman & Wakefield Inc said.

The broker raised its forecast by 25 per cent after transactions so far this year reached 29.8 billion euros, almost equal to all of 2013, according to a report yesterday. The 2014 total was boosted by the liquidation of the Irish Bank Resolution Corp, formerly Anglo Irish Bank Corp.

This year may mark a peak for loan sales after deals soared in the first several months, Federico Montero, corporate finance partner at Cushman & Wakefield, said in a statement.