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The Cologne commercial real estate investment market recorded €256 million in transaction volume during Q1 2026, representing a 194.9% increase year-over-year, with office properties dominating at 79.3% of total investment and the City Centre accounting for 52.4% of activity. Net prime yields remained stable for office assets at 4.40%, while retail high-street properties increased to 4.00% (+10 basis points) and logistics rose to 4.50% (+25 basis points) compared to Q1 2025.

This is a market report published by JLL in March 2026 covering office sector dynamics in Rotterdam, Netherlands during the first quarter of 2026.

Lyon's office rental market experienced historically low activity in the first quarter of 2026, with only 31,335 m² marketed and demand falling 32% year-over-year to its lowest level since 2015, while immediate supply rose 20% to 617,763 m² and vacancy reached 7.9%. Prime rental rates for regenerated assets in the 6th arrondissement held at 380 €/m²/year, while secondary market space averaged 186 €/m², with secondary stock comprising 71% of available supply.

This is a residential market report published by CBRE in December 2025 covering the multifamily sector in Vienna, Austria.

The Valencia industrial and logistics market faces acute supply scarcity with availability below 1%, addressed by a planned delivery of over 800,000 square meters of new space between late 2025 and 2026, of which 470,000 square meters are immediately available. The market demonstrates strong demand with absorption exceeding 400,000 square meters in the first nine months of 2025 (a 65% increase year-over-year), prime rents consolidating at 5.5 €/m²/month with asking prices reaching 5.65–5.75 €/m²/month in prime locations, and investment volumes in the Valencia region surpassing 100 million euros during 2025.

Valencia has consolidated its position as a preferred destination for institutional investors in the Living segment, with Build-to-Rent stock of 1,493 units currently held by institutional investors plus 1,385 additional units expected in coming years, while flex living has emerged as the highest-interest asset class due to high returns despite limited operations constrained by scarcity of large tertiary land with adequate public transport connectivity. The report identifies institutional investor interest as a strategic opportunity for urban regeneration and housing supply stabilization, though Valencia faces the challenge of enabling sufficient developable land to compete with other European capitals while addressing the fact that 95 percent of the city's housing stock was built before 2010.

The document presents a 2025 market overview of the Luxembourg office sector, showing office take-up of 179,500 square meters, representing a 34% increase compared to 2024 and a 4% decrease versus the 2020-2024 average. The occupier market recorded 186 transactions in 2025 with an average transaction size of 965 square meters and a median of 322 square meters, with 75% of transactions involving spaces smaller than 1,000 square meters, and the largest deal being JP Morgan's letting of 13,975 square meters at The Waves building in Kirchberg.

Valencia's prime retail high street zone is expanding driven by tourism and low availability, with rental availability declining to approximately 5% over the past 12 months and streets like Jorge Juan, Ruzafa, and Don Juan de Austria near 0% availability, pushing commercial expansion to adjacent secondary streets around Mercado Colón, Plaza de la Reina, Plaza Mercado, and Calle San Vicente. International operators view Valencia as the third priority city after Madrid and Barcelona for flagship stores, but face challenges due to insufficient large-format retail spaces, while investment yields for prime assets remain near 4% with limited transaction activity as most prime commercial properties are held by private investors with a long-term ownership profile.

Düsseldorf's retail market is projected to reach €8.3 billion in sales in 2025, with retail growth expected to average 3.8% annually through 2029, supported by a population of 658,200 city residents and 2.9 million in the metropolitan area, along with 3.3 million annual tourists and average household disposable income of €70,100. Prime rents on Königsallee, the city's premier retail address, stood at €3,360 per square metre per year as of Q3 2025, positioning Düsseldorf as Germany's second-largest retail market by sales per capita at €13,340.

The Valencia office market report finds that prime buildings are expected to reach 100% occupancy in 2025, with current prime rents at €18.50 per square meter per month and new projects anticipated at €22–24 per square meter per month. Market availability stands below 4%, demand is driven by flexible workspace operators and technology companies, and approximately 35,000 square meters of new office supply is expected in strategic areas including the Marina zone, which has established itself as a new office hub.

Cushman & Wakefield's MarketBeat report for Luxembourg's office market in Q4 2025 covers economic indicators, take-up activity, rental rates, vacancy, and investment volumes, finding that annual take-up reached 179,000 sq m (23% below the ten-year average) with 65% concentrated in grade A buildings, while the market showed stable prime rents at €54/sq m/month in the CBD and a 5.20% overall vacancy rate. Key economic projections include GDP growth of 0.57% in 2025 with expectations to strengthen to 2.29% in 2026, HICP inflation at 3.3% in December 2025, and investment volume of €333 million across 10 deals for the full year.

Valencia's residential market faces structural tension with demand significantly outpacing supply, resulting in a 22.5% year-on-year price increase in 2025, while projections indicate the province of Valencia will need approximately 215,000 new homes by 2039 to accommodate household growth of 19.1% in the Valencian Community. New construction offerings are at historic lows due to limited buildable land and slow urban planning processes, with over 30% of new homes marketed in 2025 exceeding €500,000 and primarily targeting international buyers, while second-hand housing in neighborhoods like Ruzafa and El Carmen has become the main access route for local residents with an 11.3% price increase.

Valencia's hotel market expanded significantly between 2019 and 2025, with the number of operating hotels increasing 35% to 201 properties and total rooms growing 14% to exceed 10,000, while maintaining stable 76% occupancy driven primarily by international tourists (65.4% of 3.3 million overnight stays in the first eight months of 2025). Operating metrics show an ADR of 116 euros and RevPAR of 88 euros as of August 2025, with hotel investment reaching 136 million euros in 2024 and notable transactions including a 50 million euro acquisition of Hotel Exe Rey Don Jaime in 2025.

Regional office real estate in France contracted by 9% in 2025 to 1.28 million square meters commercialized, with regions maintaining 44% of national volumes, though performance varied significantly by city with Lyon leading at 186,000 m² despite a 21% decline, while investment volumes fell 6% to 7.1 billion euros with office investment at 1.5 billion euros. Prime rental rates remained stable or progressed in most major regional metros, secondhand space dominated at 74% of leasing volumes, and REITs increased their presence to 34% of office investment while SCPIs declined to 27%.
The Cologne office leasing market achieved 230,100 square meters of annual turnover in 2025, approximately 5 percent above the previous year's 218,200 square meters, driven by a strong fourth quarter that recorded 65,300 square meters. The top rent remained stable at 33.00 euros per square meter while average rents rose to 20.60 euros per square meter (an 8 percent increase from Q4 2024), and the vacancy rate increased to 5.5 percent by December 2025 from 4.8 percent in Q4 2024, though this remained below the level of top-5 markets.

This is a market report published by CBRE in December 2025 covering the office sector in Vienna, Austria.

The 2025 market study by Brice Robert Arthur Loyd covers the commercial real estate market in Lyon and its metropolitan area across offices, activity spaces, logistics, and investment sectors. In 2025, the office market recorded 184,590 m² of placed demand across 449 transactions with a 7.7% vacancy rate, while the activity spaces market rebounded with 276,466 m² placed (up 7%) and 320 transactions, with the Grand Est zone dominating at 57% of volumes.

This is a data report published by CBRE on December 31, 2025, presenting office market figures for the fourth quarter of 2025 in Stockholm's central business district. The report covers the office sector in Stockholm, Sweden.

This is a market outlook and forecast report published by CBRE on December 31, 2025, covering the Austrian real estate market with focus on Vienna's office, hotel, investment, and data centre sectors. The report addresses capital markets activity and real estate trends across these four property types in Vienna and Austria.

The Düsseldorf logistics market recorded take-up of approximately 227,000 square meters in the first three quarters of 2025, representing a 20% increase year-on-year and 24% above the long-term average, with large-scale contracts accounting for roughly 28% of this activity. Prime rents increased 8% year-on-year to €8.50 per square meter while average rents rose 5% to €6.90 per square meter, driven by high demand for modern ESG-compliant space and limited supply.

This Cushman & Wakefield MarketBeat report analyzes Luxembourg's office market in Q3 2025, finding year-to-date take-up of 131,000 sq m and investment volume of €188 million amid an economy forecast to grow only 0.93% in 2025 due to weaker global conditions and U.S. tariff uncertainty. The report indicates occupier activity remains 20% below the 10-year average as businesses adopt a cautious stance, though prime rents in the Cloche d'Or district increased from €38 to €40/sq m/month and overall office vacancy stabilized at 5.17% following 78,000 sq m of new completions in Q3.

In the first three quarters of 2025, Düsseldorf's investment market recorded €766 million in investment volume, matching the previous year but remaining 55% below the 10-year average of €1.7 billion, with the market ranking fourth among A-cities behind Berlin, Munich, and Hamburg. Net prime yields stood at 4.50% for office properties, 3.95% for inner-city retail, and 4.40% for logistics properties, with no transactions exceeding €100 million recorded so far in the year.

This document analyzes Luxembourg's office market for the first nine months of 2025, reporting that office take-up reached 128,600 square meters, representing a 42 percent increase compared to the same period in 2024 and a 5 percent rise above the 2020-2024 average. The report notes that despite a Q3 slowdown, the market recorded 137 transactions across nine months, with 80 percent involving spaces smaller than 1,000 square meters, and identifies JP Morgan's 13,975 square meter lease at The Waves in Kirchberg as the largest deal.

In the third quarter of 2025, France's regional office market posted 628,000 square meters of transactions across seven major metropolitan areas, representing a 5% quarterly decline and a 21% fall below the ten-year average, with Lyon leading at 135,000 square meters despite a 17% annual decrease. Investment in regional commercial real estate totaled 4.4 billion euros over the first nine months of 2025, down 16% year-on-year, with office assets representing 700 million euros (16% of the total) and experiencing a 38% decline, while logistics dominated at 39% of invested volumes.

This is a market report published by Savills in September 2025 covering the build-to-rent sector in Edinburgh, UK during the third quarter of 2025. The report focuses on multifamily residential developments in the Edinburgh market.

JLL's Big Six Residential Development Report for Summer 2025 analyzes residential development trends across six UK cities (Birmingham, Bristol, Edinburgh, Glasgow, Leeds, and Manchester), finding average annual price growth of 1.7% and rental growth of 2.1% across these markets, with Birmingham leading in both metrics and over 14,500 BTR units in its pipeline. Key findings include a 64% increase in BTR investment in H1 2025 versus the five-year H1 average, normalization of rental growth from 4.2% in December 2024 to 2.1% currently, removal of Scotland's temporary rent cap legislation on 1 April 2025, and development viability challenges from building safety regulations and planning restrictions impacting new home completions despite strong underlying demand for urban housing.

Luxembourg's office occupational market recorded take-up of 60,975 square meters in Q2 2025, marking one of the strongest quarters since early 2023, driven by large corporate demand for Grade A, ESG-compliant buildings, while prime rents remained stable at €54/sq m/month despite strong activity and vacancy held steady at 5.10% for the first time in several quarters. The investment market recorded modest recovery with €127 million in Q2 transactions, bringing H1 2025 cumulative investment to €158 million significantly below the five-year H1 average of €380 million, with prime yields adjusted downward to 4.90% reflecting cautiously improving sentiment for core assets.

This is a market report published by Colliers in June 2025 providing a snapshot of the property market in Edinburgh, Scotland, as of August 2025. The report covers capital markets, office, retail, and industrial sectors across the Edinburgh market.

This is a hotel market report for Vienna published by CBRE in June 2025, covering the hospitality sector in the Austrian capital.

This is a sector spotlight report published by Savills in June 2025 covering the office market in Edinburgh, UK. The report provides a market overview for May 2025.

This is a market report published by CBRE in June 2025 covering the logistics sector in Vienna, Austria, with a focus on logistics hotspots in the city. The report addresses the industrial real estate market in this European geography.

This Cushman & Wakefield MarketBeat report analyzes Luxembourg's retail market and economic conditions for the first half of 2025, finding modest GDP growth of 1.04% forecast for 2025, inflation at 2.4% in June exceeding the Eurozone target, an unemployment rate of 5.77% expected for 2025, and retail take-up of just 10,500 square meters across 30 deals with prime high street rents stable at €145 per square meter per month. Investment activity surged to €167 million year-to-date driven entirely by a single €167 million shopping centre acquisition by Wereldhave, while retail yields remained stable at 6.25% for shopping centres and 4.50% for high street properties, though current yield levels reflect market consensus rather than active transactional benchmarks.

In Q1 2025, UK purpose-built student accommodation (PBSA) investment completed 18 deals worth nearly £750 million, with 56% of transactions involving operational assets and investors increasingly shifting toward mid-market and value-add properties rather than prime assets due to concerns around occupancy, affordability, and international student mobility. The document identifies key sector challenges including supply slowdown caused by higher build costs and regulatory hurdles such as the Building Safety Act and Gateway 2 process, alongside findings that the total PBSA pipeline stands at nearly 200,000 beds with 23% under construction, while operational performance data shows the market returning to normal leasing patterns with expected rental growth of 4–5% nationally for 2025/26.

This is a quarterly data report published by Savills on March 31, 2025, presenting occupational office market figures for Edinburgh in the first quarter of 2025.

By Q3 2024, Swedish office investment volumes reached SEK 15 billion with domestic investors accounting for 100% of total volume, driven primarily by Swedish institutions and pension funds representing 60% of office transaction volume, resulting in Stockholm achieving Europe's joint-lowest prime yield of 4.0%. Stockholm's CBD office market showed resilience with a vacancy rate of 7.6%—110 basis points below the European average—while coworking space growth slowed after expanding 400% since 2017, as traditional landlords offered more flexible leases and rising costs pressured operators.

Cologne's office leasing market achieved 206,000 m² in space volume during 2024, remaining near prior-year levels, with the vacancy rate rising 90 basis points to 3.8% and top rents declining 7% to €31.50/m² due to shortage of premium stock. The commercial investment market recorded €1.01 billion in transaction volume, up 62% year-over-year, driven primarily by two major acquisitions by the City of Cologne including the Rossio office building, with mixed-use properties representing the largest asset class at €385 million and public entities accounting for 65% of buyer volume.
Rotterdam recorded the strongest office rental growth in Europe at 28.3% year-on-year, driven by competition for high-quality space among large occupiers and demand for sustainable buildings, according to Cushman & Wakefield's DNA of Real Estate report tracking 43 European cities. Across the Netherlands, Amsterdam Schiphol logistics rents grew 11.1% year-on-year, retail rents increased 2.0% in Amsterdam and 6.3% in Rotterdam and The Hague, and European office rents averaged 5.4% annual growth with the Benelux region leading at 8.2%.

Düsseldorf's office market recorded take-up of approximately 220,000 sqm in 2024, representing a 21% decline from 2023 due to slow economic recovery, though small spaces up to 2,000 sqm increased by 3% while large contracts exceeding 2,000 sqm fell 49%. Prime rents reached €43.50 per sqm (up 9% year-over-year) and average rents stood at €18.90 per sqm, with vacancy rising to 11.5% overall (though only 8.6% in the city center) and consultancies leading sector demand at 19% of take-up, while the absence of major deals above 10,000 sqm reflected challenging economic conditions despite stable contract numbers compared to the prior year.

Zurich's office vacancy rate declined marginally to 5.2% in Q1 2026 from 5.3% in the previous quarter, with uneven vacancy trends across submarkets and a significant decrease in new-build activity alongside property repurposing reducing available office inventory. The document provides summary analysis of Zurich's current office real estate market conditions as of April 2, 2026.

Italian retail investment reached 700 million euros in the first quarter of 2026, up 23 percent year-over-year, with the sector ranking first in the country's investment market. High-street prime rents hit record levels in Milan at 16,000 euros per square meter annually, up 7 percent, and in Rome at 14,000 euros per square meter, up 8 percent, driven by international retailer demand for central locations.

Vacancy on Copenhagen's high street has compressed to 6.0% from 11.3% over the past year, with 17 vacant units of 284 total, reflecting demand strengthening and property refurbishments including Bestseller's overhaul and Louis Vuitton's relocation. The fashion segment has increased its share of retail stores from 42% to 46% (131 of 284 shops), driven by flagship openings and emerging brands, while average asking rents for high street retail space stand at DKK 9,200 per square meter (gross), with rents ranging between DKK 4,000 and DKK 16,000 per square meter.
The Marketbeat Portugal Retail Q1 2026 report analyzes Portugal's retail market, covering demand trends, rental rates, and development activity across retail formats including shopping centers and retail parks. Key findings include Portugal's GDP growth of 2.3% outperforming the Euro Area, 68 new shop openings in Q1 2026 (a 13% increase year-on-year), a 209,300 square meter retail development pipeline over three years with 96% dedicated to retail parks, and stable prime rents across all formats with expected upward adjustments in the near term.

Prime office rents across the UK's 15 key regional office markets rose by an average of 8.2% in 2025, with the Big Six markets (Birmingham, Bristol, Edinburgh, Glasgow, Leeds, and Manchester) experiencing stronger growth of 10.2%, driven by limited supply of high-quality space and strong occupier demand. Investment activity remained subdued at £938 million through Q3 2025, level with the prior year, though sentiment improved and sentiment indicators point to recovery expected in 2026 supported by high-profile asset disposals and improved financing conditions.

This is a market report published by Colliers in December 2025 covering the hotel sector in Oslo, Norway, with focus on occupancy rates and earnings.

This is a retail market report published by CBRE on December 31, 2025, examining the resilience of prime shopping streets in The Hague, Netherlands, specifically focusing on Spuistraat and Grote Marktstraat.
The Cushman & Wakefield High Street Retail Report 2025 analyzes retail market performance in Lisbon and Porto, finding that 2024 marked a growth period for high street retail in both cities, with Lisbon's store count increasing 12% since 2019 and luxury and premium segments showing particular dynamism. The report identifies supply constraints as a limiting factor despite rising demand, with rents reaching record levels—Lisbon's Chiado and Avenida da Liberdade saw increases of €10/m²/month in 2024, while Porto's Rua de Santa Catarina and Avenida dos Aliados experienced increases of €5/m²/month and €2.5/m²/month respectively.

The Focus Report Copenhagen 2025 by Colliers covers the commercial property market in Copenhagen across five segments: office, retail, residential, industrial and logistics, providing market insights, historical rent developments, and key transaction data for Denmark's largest urban area of 1.4 million inhabitants. The report's main findings include that the office market shows a bright outlook with expected annual employment growth of 1.45% through 2028 and low vacancy rates around 7% despite construction activity declining 64% between 2021-2024, while the residential rental market remains robust and the industrial and logistics sector shows healthy occupancy with prospects for continued rental growth.
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This is a market report on the office sector in Manchester published by Savills in December 2025, providing an autumn 2025 spotlight on that market.

Glasgow's office market recorded 433,781 sq ft of total take-up in 2025 across 137 transactions, the highest annual total on record, with Grade A and Prime take-up reaching 229,087 sq ft (53% of total) and 31% higher than 2024 levels. Prime headline rent remained at £41.50 per sq ft in Q4 2025, having grown 28% over five years, with Savills projecting growth to at least £45 per sq ft by end of 2026 and £50 per sq ft by 2030, while overall availability decreased to 2.1 million sq ft with a 14.1% vacancy rate.

This is a data report published by CBRE on December 31, 2025, presenting office market figures for Stuttgart, Germany in the second half of 2025.

This is a market report published by Colliers at the end of 2025 providing an overview of the office sector in Italy during the fourth quarter, with Rome identified as a key market representing 28% of office investment activity.

This is a market report published by Colliers in December 2025 covering the industrial and logistics sector in Oslo, Norway.

This is a market report published by Colliers on December 31, 2025, providing a snapshot of the property market in Glasgow, Scotland as of November 2025. The report covers capital markets activity in the Glasgow geography.

The Colliers Denmark Market Report 2025 analyzes Danish commercial property market trends across six segments (office, residential, retail, industrial and logistics, hotel, and other), reporting a total transaction volume of DKK 52 billion in 2024, up modestly from 2023 but still significantly below historical averages, with residential properties accounting for 50 percent of transactions and Greater Copenhagen comprising 60 percent of all deals. The report identifies signs of market recovery in late 2024, particularly in residential and industrial/logistics segments, expects renewed international investor participation in 2025 as interest rates decline, and notes that despite yield decompression, positive rental growth in Greater Copenhagen delivered a 5.15 percent total return on commercial property in 2024.

Stuttgart's logistics market recorded take-up of 61,000 square meters in the first three quarters of 2025, down 29.9 percent from 87,000 square meters in the same period of 2024, driven almost entirely by small deals under 5,000 square meters with no major contracts exceeding that threshold. Prime rents remained stable at €8.50 per square meter and average rents at €6.50 per square meter, while weak German economic conditions and global trade uncertainties have dampened demand particularly from the automotive sector, though manufacturing continues as the leading user segment at 27.1 percent market share.

Copenhagen and Frederiksberg's residential market faces a pronounced housing undersupply as development activity slows while population continues to grow, with approximately 1,600 new housing units expected annually against a population growth rate requiring around 4,000 residents, exerting upward pressure on both rental and owner-occupier values. Market data shows rental growth accelerating in the new-build segment with smaller flats in central Copenhagen achieving approximately 3,300 DKK/sqm/year, while owner-occupier flat prices have increased 63% since early 2023, with the investment market regaining momentum driven by low vacancy rates, rental growth, and initial yields ranging from 3.50–3.75% for prime locations to approximately 4.0–4.50% in secondary markets and the Copenhagen environs.

The Stuttgart industrial and logistics real estate market recorded 69,600 square meters of space turnover in the first nine months of 2025, declining 27 percent year-over-year and falling 57 percent below the five-year average. Demand remains subdued due to economic uncertainty, with 87 percent of all lettings occurring in properties up to 3,000 square meters, accounting for 60 percent of total area turnover, while top-rents stand at 8.50 euros per square meter and average rents at 7.20 euros per square meter.

This is a market report published by CBRE in September 2025 covering the office sector in Manchester, United Kingdom.

Avison Young's Manchester outlook report assesses the city's real estate market during economic transition marked by rising interest rates, noting that property values have corrected and deal volumes have fallen, though some sectors like Big Box industrial show early recovery signs. The report projects Manchester will outperform the UK on economic growth driven by services and knowledge industries, highlights major office redevelopment schemes attracting major financial institutions, notes a 68% decline in big-box industrial take-up due to economic slowdown and low supply, and identifies Manchester as the second-most active residential investment market after London over the previous decade.

Stuttgart's office rental market recorded slightly below-average space turnover in the first three quarters of 2025 due to lack of large contracts in Q3, though broad tenant demand persisted across all size segments and rental revenue remained near the five-year average, while the vacancy rate rose 120 basis points to 6.6% primarily due to obsolete properties in outer districts, contrasting with sustained rent growth in central City and Innenstadt submarkets for modern, high-quality, ESG-compliant office space. The investment market showed early recovery signs in Q3 2025 with transaction volumes exceeding 80 million euros, driven primarily by private investors and family offices on the buyer side, with mixed-use properties representing the dominant asset class at 66% and a top gross yield of 4.8% for office properties.