The real estate investment environment has changed markedly over the last decade. It has transitioned from crisis, to recovery and growth, to an era of disruption in which historical real estate demand drivers have been upended. All of this has taken place against a backdrop of eventual tightened monetary policy and lower global growth, which is expected to stretch into the years ahead.

European real estate transaction volumes are forecast to climb 2.5 percent in 2019 to approximately €300 billion, according to data from Cushman & Wakefield, driven by increased demand across a growing range of tier 2 cities and new sectors. Upon the release of the data, David Hutchings, Cushman & Wakefield’s head of investment strategy, EMEA Capital Markets, declared that “the day of reckoning on interest rates for corporates and investors has again been delayed”. Instead, he said, 2019 will see a further extension of the property cycle, offering investors another chance to ge