The credit rating agency Standard and Poors have predicted that the economic crisis affecting Europe will not last beyond 2013.
“Standard & Poor's Ratings Services believes that the macroeconomic crisis may not extend beyond 2012. We still expect a new recession in Europe, although we believe it will be mild, with a gradual return to growth thanks to the growing demand from emerging countries, the strength of demand in developed countries and the restoration of investor confidence,” said the company.
“With respect to the housing market, we look forward to seeing the beginning of a significant recovery in 2013, which will improve macroeconomic conditions and reduce unemployment,” said the agency, which they hope “will boost consumer demand and the valuation of real estate.”
However, S & P noted that the characteristics of the residential housing markets vary throughout Europe, and pointed out that, in their opinion, the United Kingdom, Germany and France, continue to be the “more attractive” developed markets, while Russia appears to be foremost among emerging markets.
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