Current signs on the market indicate above-average investment activity in 2019. We expect total transaction volume to come in at around €58bn, not far behind 2018 results. Even after the marathon of the past several months, there are still deals in the pipeline. Pressure to invest will continue at least into the second half of the year under the impact of the ECB’s zero-interest policy and a lack of investment alternatives. Investors looking at a shortage of popular core and core+ stock products will in part be consoled by increasing re-sales and increased opportunity for forward deals. Investors looking to clean out their portfolios will be met with higher willingness to take risk buy-side. Yields will continue to drop, particularly for quality assets in secondary locations. The current prime yield cycle appears to have almost bottomed out.