The volume of transactions in European office real estate in the third quarter fell by a third year-on-year, to 8.8 billion euros, reports the Financial Times, based on MSCI data. The number was the lowest since the third quarter of 2009 amid rising bond yields and the start of a new cycle of interest rate hikes by central banks, which led to an increase in funding costs.

The volume of transactions in European office real estate in the third quarter fell by a third year-on-year, to 8.8 billion euros, reports the Financial Times, based on MSCI data. The number was the lowest since the third quarter of 2009 amid rising bond yields and the start of a new cycle of interest rate hikes by central banks, which led to an increase in funding costs.