European property values could fall by 10% this year

European property companies are struggling as the global credit crisis spreads. JPMorgan Chase & Co. predicts declines between 5% to 10% in European property values this year. "While many real-estate investment trusts and listed companies have the balance-sheet strength to make acquisitions, our view is that companies are looking for a bottom to the market before committing to large cross-border deals," said Shaun Stevens, a senior product specialist at asset manager Fortis Investments.

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