Despite the strong growth of the beginning of the year, we observe credit production and residential activity starting to slow down...

The pivot in ECB monetary policy is worsening the housing affordability. prices are now in an adjustment phase.

The pivot in ECB monetary policy is triggering the reversal in the housing cycle.

Total investment for Q1 2025 amounted to €162bn showing a solid +22% year-on-year increase. 
 

The residential investment volume in Europe showed positive signs in Q1 2025, with the highest Q1 investment volume reaching €8.9bn since Q1 2022.

€76.7bn was invested in commercial real estate over the first half of 2025, a small increase on H1 last year.
 

Letting in the 18 main European office markets amounted to 3.99 million sqm over H1 2025 (+6% y.o.y). 

Given the current uncertainties and the deterioration in the business climate, we expect negative GDP figures in Europe for the rest of the year. As a result, we are expecting a significant slowdown of the economy, ...

• An increase in defense spending across Europe and looser fiscal policy in Germany will support economic growth.
• However, higher US import tariffs and global uncertainty will prevent much of a rebound.

The investment market has been improving despite uncertainties in the economic and political environment. The industrial and logistics market increased by 7% in H1 2025 (versus H1 2024) ...