The European Real Estate Forum is an informal alliance of organisations with an interest in institutional investment in European real estate, including investors, fund and asset managers, property professionals and property companies.
Real estate investment diversifies portfolios and delivers the returns needed by (institutional) investors, such as pension funds and insurance companies, to fund pension and insurance obligations. These long-term investments provide a critical contribution to the real economy in Europe.
Commercial property contributed EUR 452 billion to the EU economy in 2019, in fact, 3.1% of European GDP, and directly employs over 4 million people – more jobs than in the banking sector and more than in automotive and telecommunications sectors combined.
Half of all commercial property is leased to businesses that need the flexibility of renting rather than owning their premises. The EU commercial property sector supplies 3.5 billion m2 of floor space to business.
Property, both residential and commercial, is critical to achieving the EU’s sustainability targets. They offer huge energy-saving potential through investment of around EUR 60 billion per year – a major source of economic activity. Investment in new commercial property buildings and the refurbishment and development of existing buildings on average totals nearly EUR 257 billion each year – representing over 10% of total investment in the European economy.
Property-related activities are highly diverse and involve besides property management also planning, financing and construction activities, valuation, facilities management as well as consultation or brokerage services. The real estate sector has a higher economic importance than other sectors such as the automotive industry or the healthcare sector.
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EU climate and energy policy is increasingly focusing on reducing greenhouse gas (GHG) emissions and improving energy efficiency, whilst maintaining the security of energy supplies and supporting growth, competitiveness and jobs. Key in achieving these objectives are innovation, cost effectiveness and resource efficiency.
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Real estate investment plays a vital role in facilitating European business and industry. The provision of appropriate premises is equal in importance to plant and machinery as a vital factor of production, as well as an important requirement for a healthy and pleasant working environment in the services sector.
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On 29 October, 12 industry associations representing real estate, private equity and venture capital sent a joint letter to the European Commission regarding the recent shell...
Commercial real estate plays a fundamentally important role in the real economy of Europe. It contributed EUR 452 billion to the EU economy in 2019,...
