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Premium and luxury brands were the most active in the occupier market over H1 2023, while innovative mass-market brands continued to open state-of-the-art stores

With many large occupiers having made property decisions in 2022, the challenging economic backdrop is concentrating attention on cost control, reducing letting activity as a result. Occupiers continue to focus on quality over quantity, widening the gap between assets in the most coveted districts and secondary locations.

Activity is slowing down throughout Europe. After 5 years of outstanding investment volumes, the market continues to attract buyers.

While hybrid work models are here to stay, workplace plays a key role in attracting and retaining talent, both in terms of space quality and location. Demand is also high for energy-efficient and sustainable buildings.

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

The rapid acceleration in financing costs from mid-2022 destabilized pricing in the market, resulting in investment plummeting by Q4 as buyers and sellers pulled back.