The European Semester is the process by which, on the basis of European Commission research, all EU council member states develop a set of recommendations to each individual member state, focused on what needs to be done to address economy concerns and ensure that its spending trajectory and financial and housing markets do not cause systemic risk to the Eurozone and to the Union.
Starting in 2012, Real Estate has been a leading area of focus for the ES. Most member states have been motivated to adopt recurrent property taxation, modernise their property registers, simplify shopping centre investment, reform planning laws and/or liberalise housing rental markets.