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1、REPORTEUROPEREAL ESTATECBRE RESEARCHAUGUST 20252025 European Real Estate Market Outlook Mid-Year ReviewIntelligent Investment2CBRE RESEARCH 2025 CBRE,INC.Intelligent Investment2025 Mid-Year Market Outlook|EUROPEOverviewWelcome to CBREs 2025 European Real Estate Outlook Mid-Year Review.In this report

2、,we revisit the predictions we made at the beginning of the year and share our perspective for the months ahead.Despite increased uncertainty in the global economy,Europes consumer-led economic recovery continues,but at a slower pace,given lower levels of confidence.Following four rate cuts by the E

3、CB earlier this year,we expect one further cut in 2025.The BoE has cut rates twice,and we anticipate three further cuts this year in line with market expectations.Although our economic outlook has softened amid current global tensions,we still expect GDP growth to improve compared to 2024.Capital ma

4、rkets activity has gained momentum,driven by a material improvement in financing conditions.We expect further improvement in the latter half of the year,with stronger buying appetite being matched by increased asset availability,partly due to a wave of upcoming loan and equity maturities.Investor in

5、terest is strongest in the living sector,with broader buying strategies emerging.Logistics shows an expanding gulf between prime and secondary assets,with building specification increasing in importance.Office investment continues to see strong momentum as investors return to the sector.Retail meanw

6、hile sees a resurgence in large shopping centre deals due to attractive entry yields.Interesting dynamics are also emerging with regardsto sector drivers and occupier markets.Living remains undersupplied,with the situation expected to worsen further as investors increasingly opt to buy rental assets