Paris
The outlook for the European real estate market is cautiously optimistic despite growing geopolitical uncertainty and concerns about economic growth, with London, Madrid, and Paris emerging as the standout performers, according to a new report by PwC and the Institute.
According to the second annual C Change Survey, 93 percent of respondents report incorporating transition risks into their real estate investment decisions, indicating the industry’s growing awareness and commitment to integrate climate-related financial risks into decision-making processes.
The global head of corporate real estate at one of the world’s biggest banks told attendees at the 2024 ULI Europe Conference in Milan that a lack of sustainable office assets is “one of the biggest challenges” the company faces.
A team from ESSEC Business School in France has been named the winner in this year’s prestigious ULI Hines Student Competition – Europe. The results were announced by ULI and Hines, the global real estate investor, developer, and property manager, following the final of the fifth annual pan-European competition for integrated and multidisciplinary urban regeneration.
Despite the monetary headwinds and continued economic uncertainty around the world, there is a strong belief that the global real estate industry is at a “pivot point,” with improving prospects ahead for renewed investment activity, according to the latest Emerging Trends in Real Estate® Global Outlook 2024 from PwC and the Urban Land Institute.
Despite economic and political uncertainties, a host of market pressures—such as growing connections between sustainability and financial performance, increasing regulations, extreme weather events, and the importance of health and social equity—are driving real estate companies to prioritize sustainability like never before.
Paris mayor Anne Hidalgo, known for reinventing Paris as a 15-minute city, to receive the prestigious ULI Prize for Visionaries in Urban Development.
According to the latest Emerging Trends in Real Estate® Europe report from PwC and ULI, 75 percent of real estate leaders agree current valuations “do not accurately reflect” all the challenges and opportunities in real estate, as a wedge continues to be driven between market price expectations and book valuations.
Although residential fell more in the first quarter of 2023, office remains Europe’s most scarred commercial real estate sector, according to advisory firm Green Street. Government mandates around sustainability are also tightening, and Cushman & Wakefield says 76 percent of European office space could be obsolete by 2030 unless landlords start investing now.
The mayor of Paris is embracing the ville du quart d’heure—translated as 15-minute city—the first time that a leading politician in France’s largest city had backed the idea, particularly as a reelection strategy.