The Real Estate market has been on a tumultuous journey over recent decades. The 2007–2008 financial crisis left an indelible mark on the sector, causing property values to plummet and lending conditions to tighten. However, the market has rebounded from the depths of that crisis and has enjoyed a robust period of growth over the past few years. This resurgence has been fuelled by the ready availability of low-cost capital, a robust demand for housing, and a restricted supply. Although the market encountered a minor blip due to the COVID-19 pandemic, the signs pointed towards continued recovery until quite recently. Now, as we enter 2023-2024, there are concerns regarding the financial challenges that could potentially unsettle the market once again.

One of the pivotal factors that can significantly impact Real Estate values is interest rates. This influence extends its reach across commercial Real Estate sectors, encompassing offices, retail, hotels, and logistics, which frequently rely on medium‑term financing. As interest rates climb, the cost of financing becomes steeper, creating hurdles for both developers and investors eager to embark on new projects.