This industry seminar is focussing on actual developments in local/regional real estate markets. Also Europe has been affected by three major factors: The war between Russia and Ukraine, COVID 19 and inflation. Especially COVID 19 was a black swan with important impact on economy and social mobility for around two years and has triggered severe social and economic disruption all over the world, leading to a certain degree of recession. The presentations in the framework of this seminar highlight different aspects.