Savills said it expects its performance for the full-year ended 31 December 2024 to be in line with its expectations and substantially ahead of the previous year.
In a trading update, the company said its UK business performed “strongly” supported by the “resilience of the prime residential business, our market share in commercial transactions and by our substantial less transactional service lines”.
The performance of the company’s EMEA business improved “substantially” year-on-year and Savills Investment Management traded “broadly in line” with expectations.
Savills said it expected the challenging macro conditions to continue for some time, but added “most markets are in recovery and as we enter 2025, whilst current financial markets are characterised by uncertainty, sentiment has turned to expectations of progressive reductions in the cost of capital being likely during the year”.
The company said re-financing driven activity, the sustainability agenda and corporates requiring greater office attendance for staff, would continue to have a positive impact on transaction volumes. As a result of these factors, Savills said it expected “continued improvement” through 2025.
The company intends to report its 2024 full-year results on 13 March 2025.
