The case for European residential investment is compelling, for a number of reasons. In a nutshell, this sector (which, in a larger sense, includes the multifamily/private rented sector (PRS), student housing and retirement/senior housing) offers an attractive combination of income and growth to a property portfolio. The residential sector is largely based on structural growth drivers, providing insulation from cyclical volatility. To some extent, while this sector benefits from economic growth, it can also thrive in an environment of slow economic growth and financial market volatility.

It is important to put the residential market in a wider all-property perspective. Specifically, in order to gauge the extent of the opportunity, we need to estimate the potential size of the “investable” market. In order to come up with a realistic figure, we will first look at the United Kingdom, as this market has very comprehensive real estate data. The assumptions used he