Investors favor office over any other property type in Europe, the Middle East and Africa (EMEA), according to a new guide published by global real estate advisor CBRE.
The asset type was the most popular among investors in 21 of the 36 countries included in “EMEA Investment Guide 2016,” a report launched at the Expo Real conference in Munich on Wednesday. The guide to investing in commercial property in EMEA details economic and property fundamentals across the region, including an overview of the land system, foreign investment policies and property taxes.
Other popular assets across EMEA included shopping centers, residential, hotels and light industrial and warehouses.
The report also found that $122 billion was invested in real estate in EMEA markets over the year ending at the end of the second quarter.
Jonathan Hull, CBRE's head of EMEA investment properties, highlighted the strength of the region in a statement Wednesday. “This is testament to how popular these markets continue to be for investors looking to deploy capital into real estate,” he said. “Whilst investment levels are lower than 2015, prime assets in core markets across the region remain key targets for capital, and cities such as London, Berlin, Paris, Amsterdam and Brussels have continued to attract foreign investment, particularly from the Middle East and Asia.”
Hull noted that Germany's top sources of capital, the UK and Germany, have both increased their investment into other European markets. UK investors in particular saw a 66 percent jump in cross-border investment in the first half of 2016 compared with the same period in 2015.