Dare to D:ream
At PCB we like to remain optimistic and looking forward to 2024 is no exception.
Against the backdrop of inflation, rapidly rising interest rates and incessant media chatter around a hypothetical recession, reports of a slow down in sale volumes in early to mid 2023 were hardly a surprise. While still overall a tough year, it seems a lot of the pain happened during the first half of the year, with one contact in Dubai reporting most of their sales for the whole year in Q3 and Q4.
I use the phrase “things can only get better” with extreme caution, not least for fear of triggering flashbacks to the last election year when Conservative defeat seemed (and on that occasion was) a dead cert. While remaining strictly politically neutral (not hard given the choices on offer), I think we can all agree no one wants to see Keir Starmer following Tony Blair’s lead on when it comes to election campaign videos.
But with inflation under (better) control, (retail mortgage) interest rates falling and the media (once again) proven hyperbolic in its predictions, it seems like maybe things are already getting better.
With an election looming we’re unlikely to see the boring, straightforward year we all yearn for but whatever the weather there’s always opportunity as long as we show up as our best selves and know where to look. Even if 2024 does bring more strain on the vine we’re excited to focus on further developments and innovation at PCB.
Following the pilot episode of our PCBCast last year, we’re pleased to announce a series of 6 episodes this year. Keep an ear out for Episode 1 in our next communication. Our Real Estate Revealed Series will also kick into full swing, with plenty to cover including Building Safety developments, leasehold reform and much more. It’ll be interesting to see what impact an election will have on these already hot topics.
In terms of areas of focus, we’ve already mentioned Manchester and Dubai this year and look forward to updating you on our activities there as well as emerging opportunities in Turkey, Singapore and Mainland China where it’s soon to be Year of the D:ragon.
We look forward to sharing another interesting year with you.
Sam was educated at the University of Sheffield as well as Griffiths University in Brisbane, Australia. He gained professional experience in London real estate before joining PCB in 2012. His specialisations include: overseas investors purchasing new and established property, real estate finance and commercial property investment work.
