- GDP data in the first half of 2025 was distorted by US tariffs. As a result, strong activity in Q1 was followed by much weaker activity in Q2. Looking ahead, looser fiscal policy will support growth
- €76.7bn was invested in commercial real estate over the first half of 2025, a small increase on H1 last year.
- Uncertain market sentiment slowed the pace of recovery over H1 2025 with differences in capital deployment across asset classes compared to 2024. Office investment volume at €19.6bn maintains a stable performance this half-year. The strongest sector was retail where €17.5 billion were spent (+15%), continuing growth seen earlier in the year. Logistics at €19.1 billion showed growth (+7%) supported by Q2 and its market share of 25% remains above its 10-year average. Hotels (€10bn), the leading asset class by volume growth throughout 2024, slowed in H1 2025, though its market share of 13% remains good.
REVIEW - INVESTMENT MARKETS IN EUROPE - H1 2025
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