The WPJ

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Global Cities Residential Price Growth Recovers as Interest Rate Cuts Begin

According to property consultant Knight Frank, global housing markets continue to display healthy price growth in late 2023, despite the record rise in interest rates since late 2021. Across our basket of world cities, average prices only experienced a decline on a quarterly basis in the final quarter of 2022, after which prices have risen by 2.7%.

European Construction Slows as Demand Plummets in 2023

According to ING, high interest rates and soaring building costs have drastically reduced the demand for new buildings in Europe.

The World's Luxury Property Markets Go Negative in 2023

Based on Knight Frank's latest Prime Global Cities Index (PGCI), which tracks prices in 46 leading prime markets worldwide, fell by 0.4% in the 12 months to the end of March 2023. This marks a sharp reversal from a peak of 10.1% growth in the fourth quarter of 2021.

European Hotel Transactions Decline 18 Percent in 2022 as Interest Rates Surge

According to HVS' latest annual European Hotel Transaction Report, hotel transactions for 2022 totaled €13.3bn ($14.4bn USD), an 18% fall on the previous year as the impact of the Russian invasion of Ukraine, rising energy and food costs and high interest rates hit investor confidence.

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