Main European commercial real estate markets total €102b
Economic growth in Europe has slowed more than expected in 2019, mainly due to the rising trade tensions between the United States and China, according to BNP Paribas Real Estate. All told, growth in the euro zone could come in at around 1.1 percent in 2019, compared with 1.9 percent in 2018.
“The main feature to watch within Europe will be the geopolitical situation in countries like the United Kingdom and Italy,” said Richard Malle, head of international research for BNP Paribas Real Estate. “Yet apart from these uncertainties, European growth remains underpinned by solid fundamentals, notably the employment trend, healthy household revenues, strong corporate profits and favorable interest rates.”
In this uncertain environment, 10-year bond yields have reached new floor levels, dipping below zero in Germany (–0.7 percent), France (–0.4 percent) and the Netherlands (–0.6 percent).
“Since 2014, economic news, whether good or bad, has driven inter