O U T L O O K

The new normal
has emerged

Dawn of 'the new normal'. The Avison Young Outlook report series unveils a fundamental transition in the commercial real estate realm across Europe and the UK. The pandemic, the conflict in Ukraine, and interest rate shifts have triggered a profound reshaping of our industry, affecting all aspects of commercial real estate, from asset adaptation to development funding. Dive into our perspective on how global events, trends and indicators are impacting the real estate market.

Some two years on from the combined initial impact of the pandemic, the war in Ukraine and interest rate hikes, the French economy remains robust. France had experienced relatively smaller price increases compared to other major European countries. The French economy is expected to continue to outperform the euro area economy, growing by 0.8% p.a. both this and next year. As we approach the trough of this property cycle, there will arise plenty of attractive investment opportunities, especially in Paris, and chance will favour the well-prepared investors.

The picture across Europe

UK

Navigate the evolving UK real estate landscape with us. Explore sustainability, interest rates, shifting workplaces and investment strategies and what this means for specific sectors and locations in this transformative phase.

Germany

Germany is a prime real estate market. Increases in both office rents and yields create great opportunities for investors. In the investment market, price corrections have largely progressed, and banks remain cooperative with ongoing engagements.

France

Despite recent challenges, the French economy remains robust with low unemployment and stable growth. While the property market has faced cyclical downturns, signs of recovery are on the horizon, making it an opportune time for investors.

Poland

Poland's robust economic growth in 2022, driven by expansionary fiscal policies and a thriving labor market, faced challenges in 2023 due to global economic slowdown. Nevertheless, forecasts point towards a rebound in 2024, as inflationary pressures ease and financing conditions improve.