- Commercial property contributed EUR 385 billion to the EU economy in 2017, representing 2.8% of Europe’s GDP
- In 2017 its market value was approximately EUR 6.2 trillion
- Compared to the housing market, with a total value of EUR 24.6 trillion, commercial real estate is relatively small
- Yet commercial real estate alone directly employs 4 million people in the EU
- 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
- 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
