Disillusionment is palpable at Expo Real

Munich There is not much left of the euphoria of earlier years at the Munich Expo Real. Anyone looking around at the annual meeting of the real estate industry will notice one thing above all: disillusionment.

The war in Ukraine, rising interest rates, inflation and the supply chains still disrupted by the pandemic are creating a mood that oscillates somewhere between concern, defiance and cautious optimism.

The biggest headache for exhibitors and visitors is the rising interest rates. “There have never been such rapid jumps in interest rates,” says Franceso Fedele, founder of BF Direkt, a large credit broker for professional real estate investors.

He hopes that the major central banks will at least slow down their rate hikes. Fedele does not want to speak of a crisis, nor is there a lack of money on the real estate market.