It is increasingly clear to us that pricing in all three regions we forecast has bottomed, even if appraisals are yet to reflect that in mainland Europe and the US. And although we expect recent events – the election of Donald Trump and the recent UK Budget specifically – to lead to an even weaker recovery in prices than in our previous forecast, we expect property prices to (very gradually) climb, albeit by just 1% p.a. over 2025-28 at the global level.
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