 Today we're delving into two fascinating topics. Who exactly is buying up Europe's real estate and what is the forecast for this market in 2024? From British investors to Russian oligarchs, the landscape of European property ownership is diverse and dynamic. Let's explore further. Over the past few decades, Europe has become a magnet for real estate investment from around the world. British buyers have traditionally been significant players, with recent data showing that they've invested over 15 billion euros in Spanish properties alone, representing around 20% of foreign purchases. However, with the uncertainty surrounding Brexit and changes in tax regulations, the trend is shifting since 2020. While some brits are still active in the European property market, others are exploring alternative destinations or investing closer to home. On the other hand, Russian investors have maintained their stronghold in upscale markets like London and the French Riviera. Recent reports indicate that Russian oligarchs have spent over 10 billion euros on luxury properties in London, making up around 30% of high-end real estate transactions. Meanwhile, Chinese investors have been steadily increasing their presence in Europe's real estate market. They've poured approximately 20 billion euros into commercial properties and development projects in major cities like London, Paris and Berlin. And let's not forget about the growing interest from US investors. In 2024, US buyers have become more active in Europe's real estate market, capitalizing on favorable exchange rates and seeking opportunities for diversification. Reports suggest that US investors have allocated over 8 billion euros to European properties with a focus on markets like Spain, Portugal and Germany. The stable political environment and strong rental yields in these countries make them attractive investment destinations for American buyers. The European real estate market remains attractive to investors worldwide, but the landscape is evolving. We're seeing a shift in investment patterns as geopolitical and economic factors come into play. According to industry leaders and forecasts, in 2024, Germany, Denmark, Spain and the United Kingdom are among the top countries recommended for real estate investment. These countries offer stable market conditions, promising economic outlooks and attractive opportunities across different sectors. So, what's the current trend in European real estate investment? With Brexit uncertainties and changes in tax regulations, British investors are diversifying their portfolios and exploring new markets, both domestically and internationally. Russian investors continue to focus on luxury properties in prime locations while Chinese investors are expanding their footprint across various sectors and the US ones are becoming more active on Europe real estate market because of its stable political situation and high yield returns. What is the forecast for the European real estate market in 2024? European real estate investment is at a decade low and many forecasts expect 2024 to be the year to turn this trend on its head, not least due to potential key rate cuts. For borrowing costs to shrink in the economy to rebound in many European countries, it's vital that the European Central Bank and the Bank of England lower their benchmark interest rates. Investors are closely watching the timing and intensity of any potential interest rate cuts as the European real estate sector largely relies on borrowing. The risk of a housing bubble is shrinking across the world and as well in most of Europe. Economic recovery in the Eurozone is rife with uncertainty due to tight monetary policy from many central banks, geopolitical tensions, extreme weather events and China's slowing economy. However, most expectations predict that the core inflation will continue to ease. At the same time, drivers of real estate demand, such as employment and consumer spending, are expected to remain strong in Europe in 2024. In this environment, the real estate sector is close to getting back on solid ground according to Deloitte's forecasts. In its global outlook for 2024, the accounting firm surveyed sector leaders and concluded that the coming 12 to 18 months are expected to be important as real estate firms reposition themselves. Deloitte's survey shows that industry leaders see the biggest opportunity in digital economy properties, data centers and cell towers for the next 12 to 18 months. London-based global real estate consultancy Night Frank detected similar trends, saying that the innovation-driven locations are expected to be the most attractive in the current uncertain environment. And there you have it, an insight into who's investing in Europe's real estate and how the landscape is changing. Finally, if you like this video, don't forget to subscribe to the European Hub channel for more insights into European real estate trends. See you soon and take care.