It is common in the real estate market for the summer period to suffer a slump. However, in 2017, we are witness to the UK and European markets maintaining high levels of activity, showing no signs of slowing.
Property Week has recently reported an array of positive figures from H1 2017, showing a robust and confident market going into the second half of the year.
Germany saw investment increase by 49% year on year; London, despite BREXIT and the current political uncertainty is still receiving strong investor interest. In March earlier this year, Property Week reported London as the most attractive city for investment in the EMEA, followed by Berlin second, and Madrid third.
Looking at the UK as a whole, it is not just the capital which is showing strength. The demand across the regions for office space is foretelling developments for the future. With the lease costs remaining steady, improved infrastructure and increased residential space, the demand for office space is increasing. Savills has reported the office sector is seeing an increase in refurbishments to develop their current offering with a mix of tenants and fully utilising their space, improving quality.
The retail space is also showing demand despite the threat of e-commerce; online retail has posed a threat towards shopping centre and high street space for some time, however, CBRE reported that 83% of retailers still require a physical presence. Springboard have reported increased footfall and the aviation sector has recently reported increased footfall in UK’s arrivals – projecting high footfall and strength going into H2.
The real estate market’s future cannot be foretold but the trend remains positive. If you’re looking to move into the sector or looking to grow your team, please get in touch with a member of our Specialist Real Estate team:
London Real Estate – Eric Underwood +44 (0) 20 8629 0644
UK Regions Real Estate – Bradley Flatt +44 (0) 161 694 9724
London & International Real Estate – Tim Forbes +44 (0)20 8629 0641
Kat Whitehead, Senior Marketing Executive, Foundation Recruitment