Multiple factors can play a role in the decision to invest in real estate. To calculate how prosperous European cities are on the estate market, the Urban Land Institute considered transport connectivity, forecasted real estate returns, a city’s economic performance, availability of assets/opportunities for new development, market size and liquidity, regulatory environment, digital connectivity, attractiveness to talent, city leadership, housing affordability, and affordability of space for new/small/growing businesses.
Leading European cities for development and investment
London, Paris, Berlin, Madrid, and Munich were the leading five European cities by overall prospects for 2023. As most important factors for selecting a European city for investment or development, industry experts outline forecasted real estate returns, availability of assets and new development opportunities, and the city's economic performance. When it comes to the issues influencing real estate professionals in their investment choices, the major concerns shared were construction costs, availability of suitable assets/land for acquisition and development, and increased government intervention.
In terms of investment prospects, the sectors with the highest scores were new energy infrastructure, life sciences, and data centers. This should come as no surprise taking into consideration that the value of investments in industrial and logistic real estate in Europe has increased by more than threefold since 2012.
The value of Real Estate market is projected to reach US$160.40tn in 2023. Residential Real Estate dominates the market with a projected market volume of US$130.10tn in 2023.
Despite what some may think, 2023 is still a good year to invest in real estate, thanks to advantages like long-term appreciation, steady rental income, and the opportunity to hedge against inflation. Mortgage rates are expected to decline, but the housing market is likely to remain competitive due to low supply.
As far as real estate prices are concerned, according to Nomisma, values are still positive but tend towards stability. If in nominal terms housing prices in 2023 will see a +1 per cent (compared to +3.1 per cent in 2022), in reality this will translate into a decline of 4.8 per cent when adjusted for inflation.
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