European real estate investment continued to show resilience in second quarter 2025, with preliminary figures indicating transaction volumes of close to €50 billion ($58 billion), an 8 percent year-over-year increase, according to Savills’ latest research. Total investment volumes for the first half of the year are forecast to reach €95 billion ($111 billion), up by almost 11 percent compared to first half 2024.
The start of the second quarter saw a noticeable slowdown in investment activity in several European countries as investors adopted a wait-and-see attitude in the run-up to and during the United States’s “Liberation Day.” This temporary caution delayed decisions and held back volumes. However, signs of recovery emerged after President Trump’s tariff announcements, with activity gradually returning to pre–Liberation Day levels. Several large deals and portfolios have since entered the market, helping to boost confidence.
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