【Knight Frank】European Commercial Property Outlook 2019

2018 was a year of rising uncertainty but Europe still saw significant cross border investment activity. As we move further into the cycle, we identify some of the key risks and opportunities for the market in 2019.

In Europe a series of elections saw a shifting political landscape in countries as varied as Italy, Sweden, Hungary and Germany. France saw a rise in the Gilets Jaunes, while Italy faced a standoff with the European Commission around the proposed budget. Across the Bosporus, Turkey battled a currency crisis, which saw its currency lose over half its value at its peak, spiking CDS spreads of exposed European banks. However, this increasing turbulence is not unique to Europe. Arguably, more significant economic and geopolitical concerns are occurring away from the continent. Ripple effects of the US-China tradewar are being felt globally and spiking economic policy uncertainty in 2018 led to an increase in financial market volatility around the world.

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