PAN-EUROPEAN RESEARCH

Economic growth in the first half of the year has been uneven due to the increase in US tariffs. That said, Europe has shown resilience.

Over 9 months, the market remained at a low level in 2025 in the leading European markets. In a context of slow economic activity and strong political uncertainties, ...

Year-to-date investment in European commercial real estate reached €111.3bn in Q3, continuing the asset’s pattern of elongated...

Letting in the 18 main European office markets amounted to 5.95 million sqm over 9M 2025 (+2% y.o.y). This result is close to the 5-year average. The market is holding mainly due to the positive performance of Frankfurt and Central London.

In H1 2025, residential market activity was primarily driven by smaller deals. The reduction in investment in Q2 2025 (-20% y/y) offset gains made in Q1 2025 (+33% y/y).

• An increase in defense spending across Europe and looser fiscal policy in Germany will support economic growth.
• However, higher US import tariffs and global uncertainty will prevent much of a rebound.

The investment market has been improving despite uncertainties in the economic and political environment. The industrial and logistics market increased by 7% in H1 2025 (versus H1 2024) ...

Letting in the 18 main European office markets amounted to 3.99 million sqm over H1 2025 (+6% y.o.y).