Banks start cutting lending to riskier European real estate

LONDON: Banks in Europe are starting to get nervous about real estate again.

The amount of money available for property investment globally has fallen on an annual basis for the first time since 2011, led by Europe, as the amount of debt on offer diminishes, according to a report published by broker Cushman & Wakefield Inc. Lenders are prepared to offer less credit than before, particularly on riskier properties, the report shows.