The turnover of investment real estate for 9 months of 2024 amounted, according to the consulting company JLL, to 23.4 billion euros, which is 5% more than in the same period last year.
Central bank rate cuts in both Europe and the United States are helping to stabilize the situation.
"However, this will not lead to a sudden firework of sales, we can only hope for a moderate upturn, without unrealistic expectations," said Helge Scheunemann, head of research at JLL in Germany.
For many years, the real estate market in Europe and especially in Germany has flourished as interest rates have been falling, stimulating demand. The sudden rise in interest rates and the cost of construction has led to the fact that demand has dried up, and financing has decreased. It ended with the bankruptcy of some developers.
Of the European countries, Germany has suffered the most from the housing crisis. Similar problems were also observed in the US and Chinese markets.
A source: ET Realty
