The growth of the European real estate market is projected to increase by2.9% by2024.

At the opening of the 31st Forecast Forum, Mario Breglia, president of Scenari Immobiliari, presented the "European Outlook 2024." Mario Breglia noted that although the climate in 2022 was not the best, all markets are still expected to return to positive territory.

Italy is expected to grow by almost two percent, approaching a turnover of 150 billion euros. Italy stands out from other European countries. The European real estate market is closing the year with a number of negative indicators following an exceptional post-pandemic period. The five main countries on the continent (Italy, France, Germany, Spain, England) will finish the current year with just over 900 billion euros in real estate turnover, which represents a decrease of 1.2 percent compared to 2022. Germany is experiencing a decline of 5.2% (especially in the residential sector), and other countries also show slight declines.

Forecasts for 2024

The scenarios presented at the 2023 Forum show that, despite the economic slowdown, a decrease in the cost of money is expected, which makes operators optimistic about the next year. Institutional investments are also expected to increase. The residential real estate market will slightly decline, but with a small increase in prices. Growth in the hotel sector and stability in retail are anticipated.