In just a year, a continent once racked by uncertainty is riding high on a wave of confidence. Businesses are hiring, consumers are spending, exports are rising, and even governments are starting to loosen their purse strings. The immediate outlook for the economy is much improved, but we must be careful about giving too much weight to the short term. Returns are almost certain to moderate during the next five years, however, real estate remains attractive in a multi-asset context thanks to strengthening income growth and a still-significant yield spread over other fixed income products.
Source : Deutsche Asset Management