The statistic displays a **** year forecast for house price growth in the United Kingdom (UK) from 2020 to 2024, revised with the coronavirus (covid-19) impact on the market. According to the forecast, 2020 and 2021 will likely see a slower to no increase in house prices followed by a gradual recovery between 2022 and 2024. North West, North East, Yorkshire & the Humber, and Scotland prices are forecast to bounce back quicker than other UK regions with higher **** year price increase.

The average return for prime office real estate in Europe and the UK is forecast to increase in 2025. In 2024, the average return in the UK was estimated at **** percent, and in 2025, it was expected to rise to **** percent.

Quarterly and annual growth tracking of changes in prime residential property prices in the United Kingdom (UK) up to March 2021 shows increases of up to *** percent in prices. When the observation period was expanded to five years, an increase of **** percent in prices of city prime properties was reported. The property type with the highest annual price growth was prime real estate in rural areas, followed by city properties. Nevertheless, compared with 2007 peak prices, rural properties still underperformed.

According to the forecast, prime property prices will continue to grow in the period between 2021 and 2025.

Prime London flats in Outer and Central London, have reduced in prices in the period between March 2020 and 2021 and so have the Central London prime houses. Outer London prime houses, regional and coastal prime properties, on the other hand, saw prices grow in the same period. The highest increase in prices was recorded among prime country houses over *** million British pounds. According to the forecast, prime property prices both in Central and in Outer London are expected to increase in the next **** year.

Residential building contractors are contingent on the propensity of property developers to invest in new ventures; movements in property prices; government schemes intended to boost the housing supply; and underlying sentiment in the housing market. Industry contractors have endured turbulent operating conditions over the past five years, leading to volatile shifts in revenue and profitability. Revenue is forecast to grow at a compound annual rate of 5.4% over the five years through 2025-26, reaching £100.5 billion. The pandemic caused a significant drop in output in 2020-21, as restrictions placed on on-site activity and fewer enquiries for new housing units reduced revenue opportunities. Aided by government support for the housing market and the release of pent-up demand, 2021-22 was characterised by a strong rebound in activity, though materials and labour shortages maintained constraints on output. Mounting supply chain disruption and heightened economic uncertainty maintained pressure on output in the following year, though revenue growth was maintained by growth in average selling prices. Interest rate hikes and inflationary pressures led to a more subdued housing market in 2022-23, holding back the number of housing starts and completions during the year. This was followed by a slump in new residential building construction in the following year, as high borrowing costs and uncertain market conditions caused developers to scale back investment plans. The new Labour government has put forth ambitious housing targets, leading to planning reforms, increased funding for SME housebuilders and a particular focus on affordable housing to speed up housing delivery. Even though economic conditions continue to affect investor sentiment, supportive supply-side policies are anticipated to boost revenue growth by 0.5% in 2025-26. This growth is expected to also be fuelled by an uptick in new orders for residential building construction, coupled with a rise in average selling prices. Revenue is slated to climb at a compound annual rate of 2.3% to reach £112.5 billion over the five years through 2030-31. Housebuilding activity is set to grow in the medium-term, aided by the release of pent-up demand. Nonetheless, significant uncertainty remains, with mortgage rates likely to settle well-above pre-pandemic levels and supply chains remaining fragile. The new government’s pledge to deliver 1.5 million houses during the first five years of parliament will boost demand for industry contractors, though the full impact of this on growth prospects is dependent on the nature and extent of accompanying funding plans.

Mortgage rates surged at an unprecedented pace in 2022, with the average 10-year fixed rate doubling between March and December of that year. In response to mounting inflation, the Bank of England implemented a series of rate hikes, pushing borrowing costs steadily higher. By October 2025, the average 10-year fixed mortgage rate stood at **** percent. As financing becomes more expensive, housing demand has cooled, weighing on market sentiment and slowing house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold fell significantly in 2023, dipping to just above *** million transactions. This contraction in activity also dampened mortgage lending. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans declined year-on-year for five consecutive quarters. Even as rates eased modestly in 2024 and housing activity picked up slightly, volumes remained well below the highs recorded in 2021. How are higher mortgages impacting homebuyers? For homeowners, the impact is being felt most acutely as fixed-rate deals expire. Mortgage terms in the UK typically range from two to ten years, and many borrowers who locked in historically low rates are now facing significantly higher repayments when refinancing. By the end of 2026, an estimated five million homeowners will see their mortgage deals expire. Roughly two million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026, putting additional pressure on household budgets and constraining affordability across the market.

The European luxury residential real estate market is experiencing robust growth, driven by several key factors. A consistently strong performance over the past several years (2019-2024) with a Compound Annual Growth Rate (CAGR) exceeding 4% indicates a healthy and expanding sector. This growth is fueled by increasing high-net-worth individual (HNWI) populations across major European economies, particularly in the United Kingdom, Germany, France, and Spain. Demand is further bolstered by a desire for larger, more luxurious properties, often in prime locations with access to amenities and cultural attractions. The market segments are primarily comprised of villas/landed houses and condominiums/apartments, with villas commanding a premium price point in many areas. While economic uncertainties and potential interest rate hikes pose some restraints, the underlying demand for luxury properties remains strong, particularly in established luxury markets like London, Paris, and other significant European cities. The resilience of this market is evident in its sustained growth trajectory, making it an attractive sector for both investors and developers. The competitive landscape is shaped by a mix of international and regional players. Established firms such as Sotheby's International Realty, Mansion Global, and Barnes International Realty, alongside regional players like Haussmann Real Estate (France) and Rodgaard Ejendomme (Denmark), are key contributors to market activity. These companies leverage extensive networks and brand recognition to cater to discerning clients. While precise market size for 2025 isn't provided, a reasonable estimate, considering the CAGR and historical performance, suggests a market value in the tens of billions of Euros. Looking forward, the forecast period (2025-2033) is expected to witness continued expansion fueled by sustained HNWI wealth growth and a persistent preference for prime residential real estate as a safe and appreciating asset class. However, factors like geopolitical instability and fluctuating currency exchange rates could influence growth patterns. The overall trend suggests a positive outlook for the European luxury residential real estate market in the long term, with sustained growth expected throughout the forecast period. Recent developments include: August 2022: Slate Asset Management, a global alternative investment platform that focuses on real assets, stated that it had paid more than NOK 1.5 billion (USD 0.15 billion) for a portfolio of 36 key real estate properties in Norway. Following closely on the heels of the company's initial two portfolio purchases in the area in December 2021 and March 2022, this deal increases Slate's presence in Norway to a total of 63 critical real estate assets., January 2022: Instone Real Estate, one of the leading residential developers in Germany, continued its successful cooperation with LEG with the sale of around 330 apartments. The transaction includes 96 privately financed rental apartments on the west side site in Bonn-Endenich. In addition, a further 236 rental apartments in the Literature Quarter in Essen - 52 of which are publicly funded and 184 privately financed - are part of the apartment package that LEG Solution acquired as part of a forward deal for the existing LEG companies.. Notable trends are: Largest Real Estate Companies in Europe.

UK Prefabricated Buildings Market size was valued at USD 7.30 Billion in 2024 and is projected to reach USD 12.54 Billion by 2032, growing at a CAGR of 7.0% from 2026 to 2032.Key Market Drivers• Housing Shortage and Government Initiatives: The UK has faced a persistent housing shortage, prompting the government to implement various initiatives to accelerate housing delivery. Prefabricated buildings offer a faster, more efficient solution to traditional construction methods, making them increasingly attractive for addressing housing deficits. In 2021, the UK government launched the USD 11.5 billion Affordable Homes Programme aimed at delivering up to 180,000 new homes, with modern methods of construction (MMC) including prefabrication strongly encouraged.• Sustainability and Net Zero Carbon Targets: Environmental concerns and the UK's commitment to reach net zero carbon emissions by 2050 have boosted the prefabricated buildings market, as these construction methods typically produce less waste, use fewer resources, and can be designed to be more energy-efficient. In 2023, the Department for Business, Energy & Industrial Strategy reported that prefabricated buildings could achieve 20-30% better energy efficiency than traditional builds, contributing significantly to the UK's 2050 net zero target.

Revenue is forecast to contract at a compound annual rate of 2% over the five years through 2025 to €44.7 billion. This is mostly the result of COVID-19 restrictions dampening downstream demand in 2020. While 2021 saw some recovery, poor economic conditions since 2022 have stifled any significant recovery, continuing to weigh on the industry’s revenue performance. In 2025, revenue is slated to dip by 1.1% owing to the cooling housing market, despite significant investment in civil engineering projects across Europe. Despite public funding and support for new residential properties, a weaker housing market has limited stone and aggregates demand from property developers. This is primarily the result of persistently high interest rates, inhibiting borrowing and investing. Another key factor is the decline in cement and concrete manufacturing (two key downstream markets) in Europe since 2021, according to CEMBUREAU, owing to construction companies moving towards lower embedded CO2 construction materials. Still, revenue has been propped up by growing demand from non-construction markets, like glass manufacturers, fertiliser manufacturers and other industrial and building-environment solutions applications (like sand and gravel being used to prevent coastline erosion) Over the five years through 2030, revenue is forecast to grow at a compound annual rate of 2.5%, to €50.7 billion. Economic conditions are likely to remain fairly weak in the short to medium term as inflation remains above the universal 2% target. The elevated rate of inflation will ensure central banks delay any reductions in the base rate, keeping the cost of borrowing high for would-be home buyers. Weaker demand for houses will contribute to weak price performance and disincentivise developers from increasing production, weighing on activity levels in the construction sector. However, pockets of opportunity will remain in alternative uses of stone, clay, gravel and sand.

Hospitality Real Estate In The UK Market size was valued at USD 107.4 Billion in 2023 and is projected to reach USD 149.3 Billion by 2031, growing at a CAGR of 4.2% from 2024 to 2031.Tourism Recovery and International Visitors: Post-pandemic tourism rebound is driving hotel demand. According to VisitBritain's 2023 report, international visits to the UK reached 29.7 million in 2022, with spending of USD 27.11 Billion - a 776% increase from 2021. Forecasts predict 35.1 million visits in 2023, with spending projected to reach USD 31.24 Billion, representing 86% of pre-pandemic levels.Business Travel Resurgence: The return of corporate travel and MICE (Meetings, Incentives, Conferences, and Exhibitions) events has boosted premium hospitality demand. The UK Events Report 2023 revealed that business events contributed USD 88.95 billion to the UK economy in 2022, with London alone hosting 1,795 major corporate events attracting over 100,000 international delegates.

According to Cognitive Market Research, The Global Property Management Service market was estimated at USD 14.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Rising Demands for SaaS-based Property Management Software to Expand Market Penetration

Subscription-based SaaS solutions benefit companies of all sizes. Businesses increasingly use SaaS solutions to optimize operations by automating workflows and removing manual input. Businesses can also lower the cost and complexity of on-premises deployment by installing SaaS solutions. SaaS software assists large multifamily property management organizations integrate several technologies across their portfolio. In addition, the SaaS model is crucial for multi-vendor device compatibility with legacy systems.

For instance, Planon collaborated with AddOnn in March 2021 to combine AddOnn's SaaS solution with Planon's software platform for building and service digitalization to provide end-to-end solutions to end-users worldwide.

(Source:planonsoftware.com/uk/news/planon-and-addonn-launch-partnership-with-introduction-of-mobile-cleaning-solution/)

Employees in real estate organizations rely on up-to-date information to make vital decisions. SaaS systems allow users to access information from any location and device with internet connectivity. A SaaS platform can help property managers link their property solutions with sophisticated payment services for quick and easy transactions.

Evolving Trends of Workforce Mobility to Strengthen Market Share

Many employees nowadays prefer to work from home rather than in offices, corporate headquarters, or a global company branch. This contributes to the need for flexible access to office resources and data. Besides, organizations are using virtual workplaces to reduce their physical infrastructure requirements to a bare minimum, allowing them to be more flexible and use their office space better. Many businesses seek mobility, workplace, and other integrated facility management solutions. This enables property managers to retain productivity while working with a huge crew. These solutions can be used by associated real estate agents & property managers to maintain track of all the properties they manage and the routine maintenance that needs to be performed on them. As a result, the rising trend of workplace mobility is propelling the property management service industry forward.

For instance, Entrata Inc. reported the integration of Alexa with residential buildings in April 2021. This integration would enable property managers to monitor or set up Alexa-enabled devices in each unit, allowing them to create voice-controlled automated homes.

(Source:www.prnewswire.com/news-releases/entrata-enables-alexa-experience-at-scale-with-amazons-alexa-for-residential-301263114.html)

Market Dynamics of Property Management Service

Integration Complexity and Data Security Concerns to Limit Market Growth

One significant restraint property management software services face is the complexity of integrating with existing systems and databases. Many property management companies already have established tools for accounting, tenant communication, maintenance tracking, and more. Implementing new software solutions can lead to compatibility challenges and difficulties in transferring data seamlessly. Furthermore, as property management software handles sensitive information such as tenant details, financial records, and property documents, ensuring robust data security becomes critical. Any breaches or unauthorized access can lead to legal consequences, financial losses, and company reputation damage.

Impact of COVID-19 on the Property Management Service Market

The COVID-19 pandemic significantly impacted the property management service market, introducing shifts in tenant behavior, remote work trends, and economic uncertainties that prompted property managers to adapt their strategies. Lockdowns and travel restrictions decreased demand for short-term rentals, while remote work trends increased the significance of property amenities and flexible leasing options. Property managers incorporated virtual tours, contactless services, and enhanced sanitation measures to address safety concerns. Moreover, the pandemic accelerated the adoption of proptech solutions for remote property monitoring and digital communication, reshap...

According to Cognitive Market Research, The Underfloor Heating Market was USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031. Asia Pacific held the major market share for more than XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX % from 2024 to 2031. The North America region is the fastest-growing market with a CAGR of XX% from 2024 to 2031 and is projected to grow at a CAGR of XX% in the future. Europe accounted for a market share of over XX% of the global revenue with a USD XX million market size. Latin America had a market share for more than XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. Middle East and Africa had a market share of around XX% of the global revenue and was estimated at a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. The Underfloor Heating Market held the highest market revenue share in 2024. Market Dynamics of the Underfloor Heating Market

Key Drivers for The Underfloor Heating Market

Government supports fuel growth in the underfloor heating solutions market.

Strong government support and incentives for the use of underfloor heating technologies are propelling the industry. Governments throughout the world are offering subsidies and incentives for upgrading current heating systems and adopting renewable-source-based heating systems. For instance, in July 2021, The UK government announced The Green Homes Grant in 2020, which provides a cash grant of GBP 5,000 or GBP 10,000 to low-income homes in the UK to cover labor and material expenses related with the installation of heating improvement systems and will conclude in March 2021. Government initiatives or grant programmes are projected to drive the underfloor heating solutions market throughout the forecast period. Source: (https://www.iea.org/policies/11711-uk-plan-for-jobs-green-homes-grant) Thus, Government support plays a crucial role in fueling growth in the underfloor heating solutions market. Through incentives, subsidies, and regulations promoting energy efficiency and sustainable heating technologies, governments encourage the adoption of underfloor heating systems. Financial incentives such as tax credits or grants reduce the upfront costs for consumers and incentivize investments in underfloor heating solutions. Overall, government backing acts as a catalyst for growth in the underfloor heating solutions market by creating a favorable environment for adoption and driving demand through incentives and regulations.

Rise in construction fuels the growth of the underfloor heating market.

Increasing demand for building activities is likely to drive future growth in the underfloor heating industry. Construction is the process of combining various materials to construct a structure for a specific place, following a detailed plan and blueprint. Underfloor heating systems are used in construction because they deliver effective, uniform and energy-saving warmth, improve occupant comfort and are consistent with rising desires for sustainable and creative heating solutions in current building designs. For instance, in April 2023, according to estimates released by the United States Census Bureau, a US-based government body, the aggregate value of residential and non-residential constructions in the United States climbed by more than 8% between 2020 and 2021. As a result, rising building demand is propelling the underfloor heating industry forward. Source: (https://www.census.gov/construction/nrc/pdf/newresconst_202304.pdf) Thus, the increasing number of building projects is poised to fuel significant expansion in the Underfloor Heating market. Underfloor Heating offer versatile solutions for various construction applications, including load support, slope erosion protection, and channel protection. As infrastructure development accelerates globally, especially in emerging economies and urban areas experiencing rapid growth, the demand for Underfloor Heating is expected to rise.

Restraint Factor for The Underfloor Heating Market

The economic uncertainty and reduced consumer spending restrain the market

Raw material price volatility: T...

The European prefabricated buildings market is experiencing robust growth, projected to reach a market size of €57.87 million in 2025, expanding at a Compound Annual Growth Rate (CAGR) of 5.41% from 2025 to 2033. This expansion is fueled by several key drivers. Increasing urbanization and the need for rapid construction solutions are significantly boosting demand. Prefabrication offers faster construction times, reduced labor costs, and improved sustainability compared to traditional methods, making it an attractive option for both residential and commercial projects. Furthermore, government initiatives promoting sustainable construction practices and advancements in prefabrication technology, including modular designs and improved materials, are contributing to market growth. The residential segment currently dominates the market, driven by the rising need for affordable and efficient housing solutions. However, the commercial sector is also witnessing substantial growth, propelled by the increasing demand for office spaces and other commercial buildings. Key players such as Laing O'Rourke, Bouygues Construction, and Skanska AB are leveraging technological advancements and strategic partnerships to enhance their market positions. While the market presents significant opportunities, certain challenges exist. Fluctuations in raw material prices and potential supply chain disruptions pose risks. Moreover, regulatory hurdles and the need for widespread public acceptance of prefabricated buildings in some regions might impede faster market penetration. Nevertheless, ongoing innovations in design, materials, and construction techniques are expected to overcome these obstacles, leading to sustained market growth across major European countries like Germany, France, and Italy, supported by strong governmental support for sustainable construction and housing initiatives in these key markets. The “Other Applications” segment, encompassing various niche uses of prefabricated structures, is also expected to exhibit steady growth. Recent developments include: In January 2022, the University of Oxford appointed its long-standing partner, Laing O'Rourke to deliver the Stephen A. Schwarzman Centre for the Humanities. The award could signify one of the university's largest single-building projects and would see Laing O'Rourke deliver its 12th project for a client it has worked with for two decades. The new building is estimated to bring nine faculties, institutes, and seven libraries and collections into one home, with sustainable, flexible, accessible spaces for graduate postgrad and post-doc learning, research, and experimentation. Performance and public engagement spaces form a key element of the project, with a 500-seat concert hall designed with global-leading acoustic capability, a 250-seat theater, and a film screening area. It is estimated to form the centerpiece of the Radcliffe Observatory Quarter (ROQ) and is estimated to be surrounded by an inviting landscaped space, connecting the wider community throughout., In August 2021, Uliving, a brand of Linkcity UK (the property development subsidiary of Bouygues UK) specializing in student accommodation, won a 50-year concession contract to construct and provide facilities management services for a 1,262-bedroom project at the University of Essex in consortium with Equitix, its equity partner. The contract is worth GBP 168 million (EUR 194 million).. Notable trends are: Wooden Prefabricated Buildings Hold the Largest Share in the Sector.

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Online Auction Market Size 2025-2029

The online auction market size is forecast to increase by USD 3.98 billion, at a CAGR of 14% between 2024 and 2029.

The market is experiencing significant shifts in consumer preferences, with an increasing trend towards digital platforms over traditional auction houses. This transition is driven by the convenience and accessibility that online auctions offer, allowing participants to bid from anywhere at any time. However, this market is not without challenges. One major concern is the emergence of AI-based online auctions, which raises questions about fairness and transparency. Some buyers and sellers may feel uneasy about the role of artificial intelligence in setting bids and prices.
Another challenge is the rise in shill bidding during online auctions, which can artificially inflate prices and create an unfair advantage for certain participants. Companies looking to capitalize on the opportunities presented by the market must navigate these challenges carefully, ensuring transparency and fairness in their platforms while providing a user-friendly experience that caters to the evolving needs and preferences of consumers.

What will be the Size of the Online Auction Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with dynamic market activities shaping its intricate landscape. Seamlessly integrated auction rules govern the bidding process, allowing for real-time, automated bidding and proxy bidding. Online bidding is accessible via web interfaces and mobile apps, enabling users to participate in auctions from anywhere. Social media integration and user reviews foster community engagement, while data analytics provide valuable insights for sellers and buyers alike. Legal compliance and buyer authentication are essential components, ensuring secure transactions and protecting against fraud. API integration and bidding software streamline processes, enabling third-party integrations for payment gateways, shipping logistics, and inventory management.

Image hosting and affiliate marketing expand reach, while notification systems keep users informed of auction closing times and bid updates. Data encryption and security protocols safeguard sensitive information, and dispute resolution mechanisms address any conflicts that may arise. Rating systems, bid history, and feedback systems promote transparency and trust. Filtering options and search functionality facilitate efficient item categorization and seller registration. Performance monitoring ensures optimal system functionality and user experience. In this ever-changing market, market dynamics continue to unfold, with emerging trends shaping the future of online auctions. From automated bidding and real-time bidding to email marketing and commission rates, the market remains a vibrant and evolving ecosystem.

How is this Online Auction Industry segmented?

The online auction industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Collectibles
  Electronics
  Artistic goods
  Jewelry
  Others


Platform

  Web-based
  Application-based


Product Category

  Electronics
  Vehicles
  Collectibles
  Real Estate
  Services


Auction Format

  Standard auctions
  Reserve price auctions
  No reserve auctions
  Sealed-bid auctions
  Dutch auctions


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Product Insights

The collectibles segment is estimated to witness significant growth during the forecast period.

In the dynamic world of online auctions, various entities play integral roles in facilitating seamless transactions and enhancing user experience. The auction listing process allows sellers to showcase their collectibles with detailed information, images, and histories, increasing transparency and trust. Payment processing ensures secure and efficient financial transactions, while pay-per-click advertising attracts potential buyers through targeted online campaigns. Terms of service and shipping logistics provide clarity on expectations and delivery details, fostering confidence in buyers. The auction platform serves as the marketplace where bidding takes place, with mobile apps and social media integration expanding reach and accessibility.

User reviews offer valuable insights, data analytics provide market trends, and legal compliance ensures a secure and fair environment. Buyer authentication, API integration, bidding software,

In the five-year period between 2025 and 2029, the prime residential rent for existing properties in Greater London is expected to increase by 17.1 percent. The highest percentage change is expected to occur in 2025 and 2029, when rents are to rise by 3.5 percent. In the UK, rental growth has accelerated notably since 2021, with March 2024 experiencing a decade-high annual percentage growth. The trend reflects the complex interplay between housing affordability, mortgage rates, and supply of rental homes as the UK housing market navigates a period of transition.

Mortgage interest rates worldwide varied greatly in June 2025, from less than ******percent in many European countries to as high as ***percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increases in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2024, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

Vienna, Luxembourg, and Hamburg were the markets with the lowest vacancy rates in Europe in the fourth quarter of 2024. Vacancy rates are a measurement of unoccupied properties during a given period and are a good indication of an area’s desirability and opportunity for development. High vacancy rates can indicate an economic downturn, a lack of demand, or possibly that standards do not meet speculative renters’ needs. Low vacancy rates are, in general, considered a good thing as it means there is a good level of demand from customers, although low vacancy rates may also show a need for more development which is not being met. Since the beginning of the coronavirus (COVID-19) pandemic, vacancy rates in the office sector have been on the rise because of declining occupiers' demand. The major European office markets? London, Paris, and Stockholm were the most expensive markets for office real estate in Europe in 2023. In London, prime office space, which refers to a property of the highest quality, optimal location, and standard dimensions that are in accordance with the local demand, was able to fetch a staggering price of ***** euros per square meter. When it comes to total stock, Berlin ranked among the largest markets in Europe. Where is office space most profitable? According to 2024 forecast the UK is expected to see the most return on investment by 2025 and 2026 than Europe. Industry experts forecast that investment will have better prospects than development, and that central city offices will perform better than suburban offices.