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- December 1, 2015: Vol. 9, Number 11

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Did you see this coming?: Are Europe’s real estate markets at risk of being undermined by Europe

by Richard Fleming

1 This article was meant to be about the outlook for real estate investment markets in Europe in 2016 and beyond. It still is, and the outlook is pretty good — in summary: more of the same, barring unexpected shocks, at least until interest rates start to rise (which could be soon) and maybe even after that — but it quickly became clear that the article cannot be kept within that narrow confine; and nor should it. Europe cannot control its external borders and it seemingly can do little about the flood of refugees and economic migrants from the Middle East, Africa and Asia that is now pouring illegally across those borders and then any which way through south-eastern and central Europe across the newly-manned and partly-fenced internal borders of the European Union toward their declared destination, Germany. Frankly, remembering how fearsome some of those borders in central, eastern and south-eastern Europe used to be during the Cold War, I am surprised at the restraint tha

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