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.

The Polish real estate market has a solid foundation, and investors have proven to be highly adaptable, as evidenced by the results achieved in previous challenging years. The current moment presents a significant opportunity for strategic purchases. Market prices are becoming increasingly favourable. Moreover, rental rates in Poland have not yet experienced a significant surge, while the solid economy continues to sustain cash flows. What is most challenging, is that we are in a period of transformation and adjustment to new circumstances – a transition is evident in all real estate sectors as well as in the deliberation and decision-making of investors and developers. As with all periods of change, chance favours the prepared mind.

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.