Commercial Real Estate in 2023 – Issues, Trends, Perspectives
The commercial real estate industry has not foregone the impact of these turbulent and uncertain times. The time for cheap money is over. Inflation is at 40-year highs. Energy prices have risen steeply. The international banking sector is experiencing some ripples. Valuations are uncertain. The expectations of sellers and buyers seem to be still far apart, causing a standstill of transactions.
Is it in fact all doom and gloom for the European commercial real estate market? Will there be changes in market sentiment in the second quarter?
It’s virtually impossible to find the optimal spot to invest or divest. Be prepared and start looking at opportunities now.– Peter Oberlechner, Partner, Wolf Theiss
Our Real Estate Partners Peter Oberlechner and Erik Steger sat down for an in-depth discussion with Andreas Ridder, Austrian Managing Director of CBRE, the world’s largest commercial real estate services and investment firm, on the current issues facing the real estate market. In addition, they share thoughts on what steps real estate developers and investor can take in these challenging times.