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Dear readers,
REECOX continues its downward trajectory in the third quarter. For the third successive time, all the countries monitored by REECOX show a negative trend. At 213.0 points, the Euro Score is also at its lowest level in more than two years. This reflects the ongoing uncertainty facing European real estate markets due to the current economic and geopolitical situation. The unease in the market is plain to see, with all countries suffering significant falls in their share and real estate share indices, as well as in economic sentiment indicators.
This quarterly report for Q3/2022 is our last publication for the Deutsche Hypo REECOX. In future, we will focus on the Deutsche Hypo Immobilienklima, a monthly report that gauges sentiment in the German real estate sector by surveying around 1,200 real estate experts. We will continue to follow developments in the neighbouring European markets, but will present our coverage in a different format. However, our partner bulwiengesa plans to continue REECOX.
Kind regards,
Your Frank Schrader
Contact
Mr Frank Schrader
Leiter Deutsche Hypo – NORD/LB Real Estate Finance
The European real estate index of the Deutsche Hypo REECOX (Euro Score) again posted a consistently negative performance in the third quarter of 2022. Following relatively modest losses in July (0.7 %) and August (1.5 %), the downward trend intensified in September in particular, with a decline of 4.9 %. Overall, the index fell by 7.0 % to roughly 213.0 points – a level last seen in July 2020.
Deutsche Hypo Euro-Score
The downward trajectory of the REECOX index continued for the fourth quarter in a row. The REECOX Germany was once again bottom of the pile, experiencing a double-digit slump of 10.3 % to 258.9 points. Relatively minor losses were posted by the REECOX France (down 2.6 % to 219.3 points) and the REECOX Spain (down 2.9 % to 172.9 points). Poland (down 4.3 % to 175.1 points) and the Netherlands (down 4.7 % to 175.8 points) were in the mid-range of the overall negative trend. The REECOX UK suffered the second-highest decline among the European countries, dropping by 6.4 % to 189.5 points.
| Country | Stock Index | Real Estate Economy Index | Economic Indicator | Base Interest Rate | Interest Rate 10-Year Government Bonds | REECOX Q2-2022 / Q3-2022 |
|---|---|---|---|---|---|---|
DE | do | dodo | dodo | eq | upup | dodo |
GB | do | dodo | dodo | upup | upup | dodo |
PL | dodo | do | dodo | upup | up | dodo |
NL | do | do | dodo | eq | upup | dodo |
FR | do | do | dodo | eq | upup | do |
ES | dodo | do | dodo | eq | upup | do |
