Discover our Pan European market reports

Retail was one of 2025’s success stories in European CRE’s elongated investment recovery. European CRE’s elongated investment recovery. Though the asset class is still a long way from previous dominance, retail is regaining investor attention, led by a focus on the potential of shopping centres.

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. The lack of new developments remains supportive of rental growth in prime sectors.

Demand for office space continued to consolidate in Europe in 2025. The overall performance is broadly in line with the five-year average, which now constitutes the market’s new normal.

Total CRE volumes grew by +9% reaching almost €177bn.