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Real Estate Convictions 2023 Q2

9/7/23
Despite persistent uncertainties, the global economy appears to be holding up better than expected in 2023. Energy prices are moderate, demand is more evenly distributed, and supply is stabilizing. This has led to an improvement in global growth forecasts, now reaching 3.0% for 2023 and 2024. However, risks persist for the Eurozone, and the ECB’s monetary policy decisions will be guided by inflation developments. The ECB’s decisions have already shown positive results in controlling inflation. Despite disparities, the healthcare, commercial, and hospitality sectors have performed well in Europe in 2023. Rising interest rates have increased the cost of debt, but rental yields are supporting overall performance.