Across Europe, the traditional view is that major cities are the best locations to invest. Whether the preference is office, residential or retail, the likes of Paris, London, Madrid and Milan will be prioritised by investors as the places likely to deliver the best returns. But should new destinations also be considered?

Many European countries are currently looking at improving their infrastructure, with revamped rail and road networks potentially making smaller, less obvious towns and cities ripe for development, sparking their own lucra­tive investment offerings as a result. In the United Kingdom, for example, the long-awaited HS2 rail network will create high-speed links between London, Birmingham and Manchester, and is a key initiative in the government's so-called "Lev­elling Up" agenda, which aims to increase the investment and development opportunities in the north of England.

For Alberto Agazzi, CEO of Generali Real Estate SGR, there is already a sense of s