Easing on the one hand, uncertainty on the other

The world has changed. Markets have reversed their expectations vis-à-vis central banks. In less than six months, the market consensus on long-term interest rates has swung from modest tightening to modest easing by the Fed, and to a renewed discussion on whether the likes of Japan, the eurozone, and Switzerland can go deeper into negative rate territory and how they can restart quantitative easing. Both are significant for real estate but the monetary shift will have more lasting consequences. But what does all this mean for real estate investment?

For more insights, read the latest Real Estate Summary – Edition 3, 2019