The last month has been a tough one in Europe, with Paris hit by a devastating terrorist attack and Brussels on lock-down. We are grateful that all our employees in Paris are safe. We also acknowledge the on-going political and social impact of the attacks, not just on France, but on Europe as a whole. But business is carrying on and we continue to actively transact. In terms of the wider economic and real estate impact, it is too early to tell, but recent history suggests that after a temporary dip in confi dence the affected economies typically bounce back quickly. Paris, one of the world’s most popular tourist destinations, may see a temporary fall in visitor numbers, but both the local and visiting population should prove resilient.
Paris and Brussels lie within the free movement area known as Schengen as does Amsterdam, which is the focus of this month’s Europe Watch. Our updated RARE forecasts show it to be one of the most attractive real estate markets in Europe: offi ce, industrial and residential properties offer superior risk-adjusted returns, and shopping centres are fairly valued. Accordingly, it merits a close look.
Source : CBRE Global Investors