- Commercial property contributed EUR 452 billion to the EU economy in 2019, representing 3.1% of Europe’s GDP
- In 2019 its market value was approximately EUR 7.5 trillion
- Compared to the housing market, with a total value of EUR 24.9 trillion, commercial real estate is relatively small
- Yet commercial real estate alone directly employs over 4 million people in the EU
- Investment in new commercial property buildings and the refurbishment and development of existing buildings increased to EUR 291 billion in 2019 – representing over 10% of total investment in the European economy
- Half of the commercial property is leased to businesses who need the flexibility of renting rather than owning their premises, as such it is a vital factor of production. Investors in commercial real estate often invest long-term, and counter-cyclically, with benefits for the economy
- Long-term investments in real estate help insurance companies and pension funds meet their long-term obligations and contribute to sustainability improvements
