The global macroeconomic context for real estate remains unsettled, and more so than earlier in 2023. Until late summer, interest rates in most major markets exhibited high volatility, but little overall trend. They moved mainly sideways, owing to cooling inflation and expectations that central banks were reaching the end of their tightening cycles. This was helpful in setting a pricing baseline for real estate investors. But the outlook for rates and thus real estate pricing has become more unsettled of late.

What does this mean for real estate and how does it intersect with other key trends?

Contributors:

Brian Klinksiek

Global Head of Research and Strategy

Eduardo Gorab

Head of Global Portfolio Research and Strategy