France (€3.6 billion/$4.22 billion) superseded Germany (€2.9 billion/$3.4 billion) as largest recipient of European office investment in first quarter 2021, with United Kingdom in third position (€2 billion/$2.35 billion), reported Knight Frank.
Intra-European cross-border office investment continued to dominate the quarter, with 68 percent of all European office cross-border investment originated from Europe itself — an increase from the 64 percent recorded in fourth quarter 2020, and above the 50 percent long-term average for first quarter investment from Europe. France continued to dominate during the quarter, benefiting from its status as a “safe haven” and attracting the highest volume of intra-regional investment at €902 million ($1.01 billion). Switzerland was the second-largest destination (€566 million/$664 million), followed closely by Germany at (€530 million/$622 million).
German investors spent €1.4 billion ($1.6 billion) during the qua
