Prediction of the European Real Estate Market in 2023: Forecast of What Lies Ahead!
The worldwide real estate sector is confronting the prospects of 2023 with trepidation, as rising inflation, interest rates, economic stagnation, and the energy crisis all have a direct influence on the market. According to the Real Estate Market Trends report made by PwC and the Urban Land Institute, utilizing a survey of more than 1,000 industry players (from banks to real estate companies and investment funds), international investment will be directed at the most liquid and well-established markets. Come 2023, Milan ranks as one of the top cities for real estate investment.
Predictions suggest that the decrease in transactions will persist in the upcoming months, leading to a decrease in real estate values. Nonetheless, this situation may provide chances for investment, specifically in major cities. Consequently, investors are being cautious and investing in reliable markets, as well as in the most resistant assets, as pointed out by experts.
London tops the list of the most attractive European cities for real estate investment in 2023, with Paris and Berlin in second and third respectively. Madrid has moved up two spots from the previous year, taking fourth place, and Barcelona remains in ninth position. The top 10 is rounded off by Munich, Amsterdam, Frankfurt, Hamburg and Milan in tenth place. Meanwhile, Rome, another major Italian city, is 21st in the ranking.