Source: Savills Research
Top 2025 European
Investment Picks
IRELAND
CORE
Living sector assets, prime offices in core CBD locations, retail on Grafton Street.
value-add
Retail (excluding Grafton Street).
Opportunistic
Non-core CBD offices with capex/leasing uncertainty, older industrial assets located close to the city centre.
Portugal
CORE
Hospitality in Lisbon, Porto, and the Algarve, offices in Lisbon and Porto, student and senior living.
value-add
Offices in secondary locations, hospitality, logistics.
UNITED KINGDOM
CORE
Prime CBD offices and logistics, dominant shopping malls, retail warehousing.
value-add
Low- cost brown-to-green office opportunities, regional office development.
Opportunistic
City of London offices, regional offices.
UK
CORE
Prime CBD office and logistics, dominant shopping malls, retail warehousing.
value-add
Low cost brown-to-green office opportunities, regional office development.
Opportunistic
City of London offices, regional offices.
FRANCE
CORE
Industrial and logistics, offices in Paris CBD and other main cities, hotels, student and senior living.
value-add
Offices in the Paris region and other regional cities, hotels, residential development via change of use.
Opportunistic
Offices, retail, industrial.
SPAIN
CORE
Logistics, living sector, retail (shopping centres, retail warehousing, supermarkets).
value-add
Offices in Madrid with a change-of-use potential, mainly to residential or hotel.
NETHERLANDS
CORE
Logistics, hotels, well-located prime offices.
value-add
Secondary logistics and light industrial assets, prime retail (with potential for alternative use, such as creating residential in upper floors).
Opportunistic
Retail in key regional cities, lower-quality offices near public transport hubs.
NORWAY
CORE
CBD offices, hotels, offices in the western fringes of Oslo.
value-add
Central Oslo income-producing offices, secondary offices with change-of-use potential to convert to hotels.
Opportunistic
Failing special purpose vehicles (SPVs) with long weighted average unexpired leaser term (WAULT) properties, distressed residential plots.
SWITZERLAND
CORE
Prime residential in Zurich and Geneva, prime offices in Zurich CBD, Basel, and Geneva, industrial and logistics on the main national highway.
value-add
Secondary residentials secondary offices, prime retail in mid-sized cities.
Opportunistic
Residential development in peripheral locations, secondary offices in mid-sized cities and western Switzerland.
GERMANY
CORE
Multifamily in growing regions, food-anchored retail, prime logistics in top
10 regions.
value-add
Secondary shopping centres, multifamily assets with manage-to-green potential, secondary offices in prime locations.
Opportunistic
Non-ESG-eligible residential, development for offices and multifamily.
POLAND
CORE
Senior living, prime offices, retail parks with limited local competition.
value-add
Student housing, logistics with short WAULT, secondary office.
Opportunistic
Residential, old logistics and offices in attractive locations, offices in regional markets.
FINLAND
CORE
Residential, offices and logistics
in the city of Tampere.
value-add
Helsinki Metro offices, either in a good location with the possibility to refurbish, or a prime asset in a secondary location, affordable housing.
Opportunistic
Change-of-use office to residential conversions in major markets.
ROMANIA
CORE
Prime offices in Bucharest, Cluj-Napoca, and Iași, prime industrial in Bucharest and the west/north-west region of the country.
value-add
Old hotels and historical properties suitable for reconversion in mountainous locations, secondary offices located in key areas of Bucharest (such as close to subway stations).
Opportunistic
Listed/heritage or historical residential buildings in central Bucharest, industrial assets in eastern Romania.
ITALY
CORE
Offices in Milan, high street retail in Milan and Rome, logistics in the north.
value-add
Hospitality, build-to-rent in Milan, student housing in university cities.
Opportunistic
Shopping centres, hospitality, supermarkets.
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