Market Update second quarter 2023

Now that we are two quarters into the year, it is becoming clearer that, in 2023, European economies will experience the consequences of the Russian invasion in Ukraine the most. Due to increasing core inflation, which might not have reached its peak, the ECB is not yet done with interest rate hikes. As a result, the economy is slowing down, consumer spending reduced, and the Dutch housing market cooled down.

The higher interest rates have also negatively affected the value of almost all real estate sectors in the Netherlands since the second half of 2022. However, despite economic uncertainties, a potential recession in the Netherlands is not expected to be prolonged, and there are also positive signs for (parts of) the Dutch real estate sector. Find out more in the Q2 2023 real estate market update by a.s.r. real estate