Investment from both domestic and overseas investors slowed in the first quarter, as the impact of geopolitical uncertainty meant a more muted start to the year than might have been expected after a buoyant end to 2024, wrote Tom Leahy, MSCI’s head of real assets research, EMEA, in a recent report exploring how geopolitical uncertainty and trade tariff tensions interrupted the recovery in global real estate markets in the first quarter.
The latest European property investment data reflects this uncertainty. Deal volume declined compared with first quarter 2024, particularly among major U.S. institutions, which had been especially active in the previous year. In this environment, caution is understandable, but the market will also present opportunities. Investors with a clear strategy and the patience to ride out turbulence may find that periods of dislocation ultimately offer the strongest foundations for future outperformance.
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