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January 24th, 2017

Housing Outlook 2017: Forecasts by Property Experts

Industry specialists make their predictions for the global residential market. C&W expects continued appetite from investors for Hungarian real estate in 2017.


Dan Conn, CEO of Christie’s International Real Estate considers 2017 as a year of greater unpredictability; however, he presumes that the markets seem willing to overlook the uncertainty given the expected pro-business stance of the Trump presidency and other governments.

”For global buyers, I believe investment in high-end residential real estate will continue to be viewed as safe and attractive. Currency moves will fuel increased demand in high-end markets in stable environments” – explains Conn.



CENTRAL AND EASTERN EUROPE

Despite economic and political uncertainty investor activity on the European real estate market in 2017 is expected to grow by 6 percent, according to a report by Cushman & Wakefield’s European Capital Markets team. Central and Eastern Europe markets will merit more attention, offering a yield advantage and catch-up growth potential. In response to a strengthening economic recovery, occupier markets are responding across the region with rents steepening, creating an attractive pricing point in leading cities. Consumption growth has outperformed the rest of Europe, further solidifying demand and encouraging all-sector rental growth to exceed the European average in Romania, Bulgaria and Hungary.


THE UK

Nathan Brooker, journalist of the Financial Times predicts that the unravelling of London’s prime property boom will begin to slow. ”After several years of rapid growth, house prices in some parts of central London finished 2016 more than 10 per cent down on where they were in 2015. Unless Brexit negotiations have any more significant shocks in store — and let’s face it, they might — I think negative price growth in prime central London will begin to level off because

a) the weaker pound makes homes look cheap to foreign investors and

b) ultra-low interest rates show no sign of increase, and so property will still be an attractive tool for capital preservation.”


THE USA

In North America, entrepreneurial cities with active and versatile tech centres will continue to grow albeit modestly. House prices in San Francisco and Vancouver might be reaching — or have reached — their peak, but according to Brooker the value of prime homes in Austin, Seattle and Portland will increase further, and probably outperform megacities such as New York and LA. Accord to Forbes Magazine more Millennials will become homeowners and renters in the USA. 


CHINA

China has dominated house price indices in 2016 — with Nanjing and Shanghai reporting Q3 to Q3 rises of about 40 per cent. New government regulations may probably temper the growth and we won’t see anything like those numbers at the end



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