Discover our Pan European market reports

Against an uncertain economic and financial backdrop, occupiers continue to favour smaller and high-quality space.

In a context of slow economic growth and strong geopolitical uncertainty, there are contrasting trends across Europe. The lack of new developments remains supportive of rental growth in prime sectors.

At €36.4bn the European investment volume is -16% below the five-year average this quarter.

Residential market activity continues to be  driven by small and mid-scale deals. 2025 was marked by more transactions overall, though fewer large-scale deals where supply remains limited.

Retail was one of 2025’s success stories in European CRE’s elongated investment recovery.

The hotel market is increasingly attractive, reflected in sector gains in commercial real estate market share.

Total investment for 2025 amounted to €177bn showing a consistent 9% year-on-year increase. All assets contributed to overall growth.

In a context of slow economic activity and strong political uncertainties, there are contrasting trends across Europe.