Transaction times on the property market reached a new record level in 2023, making buying and selling even more difficult.

Drooms’ Real Estate Trends Report 2024, which is based on all European transaction data collected by the company, showed transaction times averaged 342 days per transaction in 2023 — a historic high. 70 percent of those transactions were in real estate, while the remaining 30 percent spanned across corporate finance, energy and the legal sector.

The main reasons for an increase in time were increasing regulation and the persistently difficult economic conditions, caused by high construction costs, unattractive interest rates and an uncertain market environment. In addition, differing expectations between buyers and sellers exacerbated the situation. Nevertheless, there were some bright spots on the market, such as the stable residential and logistics asset classes, as well as the high demand for international property transacti