- For the third consecutive year, the Netherlands sustains its position as the fourth most preferred investment destination in Europe. However, its appeal remains comparatively limited among non-European investors.
- The Dutch residential market enters the top ten most preferred country/sector combinations for 2025, joining the Dutch industrial/logistics sector.
- Amsterdam makes the top ten city/sector combinations for the third consecutive year, with its industrial/logistics market in joint third place.
- Dutch investors report an average real estate allocation of 10.4% on an equally weighted basis, slightly below the European average of 10.9%.
- Seventy percent of Dutch investors participating in the survey this year have established a net-zero target, with 86% of these investors aiming to achieve this goal between 2041 and 2050.
Investment Intentions Survey 2025 National Insights
From this year's Investment Intentions Survey, we have extracted key highlights with a regional focus throughout Europe and presented them in London, Amsterdam, Munich, Helsinki and online as part of the Investment Intentions Roadshow.
Spain debuts into the top three most preferred European investment destinations, as France falls out for the first time in the history of the survey. Residential and industrial/logistics dominate sector preferences in Europe, while student accommodation emerges in third place.
Select the respective countries below for a further breakdown of each region, as well as presentations from the roadshow.
The Netherlands
United Kingdom
- The UK remains the top European real estate destination, with 93% of non-European investors and 62% of European investors choosing it in 2025.
- Residential and industrial/logistics dominate in the UK and are the top two country/sector combinations in Europe in 2025. This is supported by London's appeal and the strong fundamentals of these sectors.
- Investor preference for student accommodation in the UK has risen sharply, aligning with demand from international and domestic students.
- Investors targeting the UK show increased interest in core strategies.
Germany
- Investor demand remains strong in Germany's industrial/logistics and residential sectors, supported by regulatory transparency and sustained tenant demand. Among European investors, 38% favour industrial/logistics, while 31% prefer residential. Interest is even higher among non-European investors, with 43% targeting industrial/logistics and 50% focusing on residential assets.
- Despite recent political challenges and sluggish economic growth, Germany persists as the second most preferred European real estate destination, with 71% of non-European investors and 62% of European investors choosing it in 2025.
- There is a notable shift toward core investment strategies across Europe, including Germany, as investors seek stability amidst economic uncertainties.
- Germany’s property market continues to attract capital due to its liquidity and reputation as a resilient, well-regulated market.
The Nordics
- Unlike Europe, where current and target allocations to real estate are aligned, the Nordics remain underallocated in 2025, with a current allocation of 8.1% compared to a target allocation of 9.4%.
- Four Nordic countries—Denmark, Sweden, Finland, and Norway—rank among the top ten preferred European real estate destinations. These markets are increasingly perceived as safe havens, benefiting from stable political climates and well-developed real estate sectors.
- Denmark’s residential sector has attracted significant investor interest in 2025, emerging as a top country-sector preference in European real estate. It is preferred by 46% of European investors and 29% of non-European investors.
- The Nordics’ leadership in sustainability aligns with ESG priorities, reinforcing their attractiveness to institutional investors seeking responsible and resilient real estate investments.
Southern Europe
- Spain has experienced a significant surge in investor interest, ranking among the top three preferred European investment destinations for the first time, with a preference of 67% among investors.
- Italy has retained its position within the top ten preferred investment destinations in Europe, ranking 8th. However, investor preference has declined from 52% in 2024 to 41% in 2025.
- Spain’s attractiveness extends beyond European investors, with 64% of non-European investors favouring it as a real estate investment destination in 2025, making it the third most preferred choice among this group. Meanwhile, 69% of European investors favour Spain, positioning it as the top preferred destination among European investors.
- Within Southern Europe, Spain and Italy’s residential sectors are the most preferred country-sector combinations, ranking 3rd and 4th, respectively.
France
- For the first time since the survey’s inception, France has fallen out of the top three preferred European investment destinations, with investor preference declining from 65% in 2024 to 56% this year.
- Non-European investors show a slightly higher preference for France (57%) compared to European investors (54%).
- France’s most favoured country-sector combinations are within the residential and industrial/logistics sectors.
- The Paris residential market is the only sector-city combination to feature in the top ten rankings. Two years ago, Paris appeared three times in the rankings, while last year, only its industrial/logistics sector was featured.