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This decline is expected to continue to the end of 2000. The Euro 11 GDP growth rate for 1998 was 2.9% compared to forecast rates of 2.2% and 1.9% for 1999 and 2000 respectively. Ireland is forecast to show the strongest growth this year at 7.5%, followed by Poland and Portugal at 4% and Spain at 3.3%, with the UK showing the least growth at 0.8%.

The German economy is showing signs of recovery, which has been attributed partly to the weak Euro and the greater business confidence resulting from the pro-business policies adopted by the new finance minister.

Rental levels have risen in many key European centres over the first quarter of 1999, with Madrid, Dublin, Barcelona and Milan showing the strongest rental growth over this period. There remains a shortage of available quality and new accommodation in most city centres, which is leading to increased pressure on rental levels or decentralisation, particularly in Brussels, Lisbon and Paris. The aged person may appear to be unreasonable in resisting the proposition that a condominium or apartment would be much more comfortable.Property valuer will provide you full guidance to make important decision regarding your property.

Net absorption fell from 9 million sq ft (836,120 sq m) in the fourth quarter of 1998 to a scant 5 million sq ft (464,510 sq m), while speculative space under construction finally stabilised at 76 million sq ft (7.06 million sq m).

The U.S. unemployment rate is at a 30-year low, which has resulted in rising labour costs, while intense competition, particularly from Asia and Latin America, has reduced the pricing power of US corporations. The business climate is now improving, which suggests that the office market could shift back into high gear later this year.

This is up slightly from the 76 transactions, worth $5.3 billion, that were announced in the fourth quarter of 1998, but well below the 111 deals and $9.9 billion of transactions announced in the first quarter of 1998. The slight rise in investment activity in the office market represents a return to a more normal level of transactions after the frenzy of 1997 and the first half of 1998.