Development project and construction companies face complex cost and earning challenges during this transitional period in the real estate sector. Holders of portfolios of existing properties have to deal with not only the question of refinancing at the end of a low-interest phase. Furthermore, they are also confronted with the task of optimizing their building energy systems and performance. Given the increased default risk, banks are questioning their engagements and tightening lending criteria while at the same time earning an interest markup again. Economic stagnation and geopolitical tension are macroeconomic parameters that are adding to the uncertainty in the post-pandemic phase. In short, investors are being confronted with ambivalent signals when it comes to allocating funds.