What assessment for 2019?
The European Central Bank (ECB) has signalled that it will maintain a highly accommodative monetary policy of low interest rates in order to shore up Europe’s economy (cf. “La BCE à la croisée des chemins”, Praemia REIM Research & Strategy, January 2020).
Some 277 billion euros were invested in European commercial real estate in 2019, which means that the volume of capital dipped slightly (-6% year-on-year). France managed to maintain the
amount of capital flowing into its commercial real estate sector (€39bn), whereas Europe’s two biggest markets experienced downturns compared with 2018: -6% in Germany and -18% in the
United Kingdom. France’s real estate sector has a number of things going for it: robust economic growth projected for 2020, healthy domestic demand, and forecasts that French 10Y Government yields (OAT) will remain low (at an annual average of 0.1%).
The team
Henry-Aurélien Natter joined Praemia REIM as Research Manager in January 2018. He has the mission of developing the analyses of the Research & Strategy Department on the real estate markets, the economy and capital in France and in Europe.
Henry-Aurélien Natter began his career at Les Echos Etudes (formerly Eurostaf), then at C&W (formerly DTZ), and lastly at BNP PRE, where he acquired solid and varied experience in real estate research, strategy and finance. He is qualified with an AES degree in Business Management, a Masters Decree in management and SME management, and an International Master in commerce and marketing.
- Thematic study
Convictions Immobilières bilan 2025 et perspectives 2026
Environnement international : Malgré les incertitudes globales, la croissance résistera en 2026 Malgré des forces divergentes, l’économie mondiale se montre plus résiliente que prévu. Le PIB mondial devrait ainsi progresser de 3,3 % en 2026 et de 3,2 % en 2027. Le secteur technologique et les capacités d’adaptation contrebalancent les effets défavorables des politiques commerciales. La croissance de la zone euro devrait être modérée, à 1,0 % en 2026.
- Market review
Real Estate Convictions : Q4 2024
The continued reduction in ECB interest rates, the level of savings amongst Europeans and the recovery of the real estate markets between 2022 and 2024 all point to the potential for improvement and a rebound in the sector.
- Market review
Real Estate Convictions : Q3 2024
In October 2024, the ECB announced its third consecutive rate cut to ease its restrictive monetary policy, and we believe that a new momentum has opened up for the European real estate market. Indeed, this quarter we have seen a thaw in certain real estate indicators.
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