The total commercial real estate investment volume in Europe reached €253 billion ($312 billion) in 2017, 10 percent above 2016’s result, according to BNP Paribas Real Estate’s European Office Market Report.
“This is an all-time record year for the market, exceeding 2015’s high of €245 billion ($302 billion). This year, the market benefited from a real impetus, combining an improving economy, lower vacancy rates and cash availability. The upturn in the European economy and the performance of the occupier markets fostered real estate’s appeal as an investment,” said Larry Young, head of International Investment Group at BNP Paribas Real Estate.
Offices again led the field, accounting for 43 percent of investment volumes. 2017 was characterized by the sale of trophy assets such as Cœur Défense in Paris, the Walkie-talkie and the Cheesegrater in London, also the Sony Center in Berlin.
2017’s performance was led by German cities. The tot
