With a significant increase in industry concerns around the impacts of deglobalization among real estate leaders in Europe, prospects for renewed investment activity continue to be tempered by geopolitical and economic uncertainty resulting in the overriding sentiment among leaders having shifted from last year’s cautious optimism to pragmatism, according to the latest Emerging Trends in Real Estate Europe 2026 report by PwC and the Urban Land Institute (ULI).
The proportion of real estate leaders concerned about the impact of deglobalization has more than doubled over the past two years to 70 percent, according to the report. In addition, broader international political instability (90 percent) including in Europe, the escalation of global conflicts (86 percent) and Europe’s economic growth prospects (77 percent) are raising even greater concerns.
In the context of an uncertain economic recovery; uneven occupier demand; and concerns around construction co
