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The drop in gas prices, the decline in headline inflation and the improvement of survey data in December are giving the impression that for the Eurozone, 2023 might be better than expected. However, it is most likely that in twelve months’ time we will look back at 2023 as a recession year, a year of disinflation, and a year when central bank interest rates reached their terminal rate and stabilized.

We are expecting a significant slowdown of the economy in 2023

We are expecting a significant slowdown of the economy, but not a deep recession.

2022 is shaping up to be a transformative year for real estate markets in Europe. It has been a tough few months in macroeconomic terms, with a slowing economy, high inflation and an elevated cost of debt. The age of abundance – cheap money, labour and energy – appears to be over. Meanwhile, monetary conditions are normalizing, leaving behind the ultra-loose rates that were a legacy of the great financial crises, with implications for real estate values. The near term promises : a price correction that will set a base camp for the next cycle.

The global economy is now gradually reopening. The leading indicators are positive and suggest that a V-shaped recovery is still on the table.

By 2030 there will be an additional 1.2 billion people in the world with significant regional and country disparities. Equally significant is the general population is living and working longer. The fastest growing segment of the population will be those aged over 55yrs. In this publication we explore these changes in demographics and their impact on where work and how we work.