European office investment volume picks up in fourth quarter

European office investments volumes increased 73 percent over the final quarter of 2020 to €31.4 billion ($37.41 billion), reported Knight Frank. However, compared to fourth quarter 2021, volumes remain muted, down –44 percent.

Over the fourth quarter, multiple markets recorded further recovery in office investment, including Poland (+473 percent), Norway (+160 percent) and the Netherlands (+129 percent).

Annual investment totaled €99.7 billion in 2020, down –31 percent over the year, reflecting the pressures of the pandemic on the sector. While this was the lowest investment activity since 2013, the overall reduction in office investment is a smaller proportional decline than the global average decline of –34 percent. Germany was the largest recipient of European office investment over the year, with a quarter of total investment, at €24.9 billion ($29.67 billion). However, this was a down –29 percent from 2019’s record investment. France (20 percent)