€143bn were invested in commercial real estate over the 12 months to Q2 2024, which represents a 25 % decrease compared to Q2 2023.
 

After a torrid two years for European commercial real estate (CRE), when annual transaction volumes halved in almost all markets, we are beginning to see the light at the end of the tunnel.

€147bn were invested in commercial real estate over the 12 months to Q3 2024

Demand for office space stabilized in Europe in 2024. The overall result remained below the long-term average (-15%). 

Industrial & logistics investment hit its lowest point in 2023 and has been picking up in 2024. This reflects an improvement in financial conditions. 

Total investment for 2024 amounted to €157bn showing a solid +21% year-on-year increase. Q4 stood out, with a quarterly increase of +50% compared to Q3 2024.

This year will be an inflection point for European real estate markets. The macroeconomic environment remains uncertain and long-term interest rates are likely to remain elevated.

Office letting activity held firm in the first quarter of 2025, with take-up rising by 6% compared to the same period last year.

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

Over Q1 2025, the market increased by 2% in the leading European markets compared to Q1 2024. In a context of slow economic activity and strong political uncertainties, there are great disparities within Europe.