Safe havens in Europe for real estate investors willing to look outside the comfort of their domestic market in these uncertain times are in short supply, and so is the kind of income-producing core, prime property that those investors are looking for. Brexit has removed the United Kingdom from the safe-haven shortlist, for the time being at least, leaving the usual suspects of France, Germany and the Nordic countries.

According to BNP Paribas Real Estate Germany, investment volume last year for Germany across all commercial real estate sectors was just under €52.6 billion, including an “explosive” final quarter of €19.6 billion. Office was the most popular sector, accounting for 44 percent of volume. Retail was in second place with 25 percent but substantial investment in hotels last year, €5.2 billion or 10 percent of volume, saw that sector’s 2015 record comfortably beaten.

Evidence of Germany’s safe-haven status was prov