Source: Savills Research
Top investment picks
2025
emea
APAC
UNITED STATES
EMEA
APAC
UNITED STATES
THAILAND
CORE
Prime office in Bangkok CBD, luxury residential in Bangkok (e.g., Sukhumvit, Silom, and Thonglor), and prime retail in central Bangkok.
value-add
Mixed-use development in emerging areas, refurbishing mid-tier retail centres in suburban Bangkok, mid-market residential in outer Bangkok (e.g., Ladprao, Ratchada).
Opportunistic
Industrial and logistics parks in the Eastern Economic Corridor (EEC), hotels in tourist hubs (e.g. Pattaya, Phuket, Chiang Mai), affordable co-working spaces in Bangkok non-CBD areas.
THAILAND
Hong kong
CORE
Logistics.
value-add
Hotels, co-living, student housing and suburban retail.
opportunistic
Distressed prime office and prime retail.
VIETNAM
UNITED STATES
CORE
Prime industrial and logistics in supply-constrained markets, prime multifamily in supply-constrained markets, data centres.
VALUE-ADD
Class B multifamily, Class B industrial and logistics and outdoor storage, self storage properties in supply-constrained markets.
opportunistic
Distressed office in supply-constrained markets, distressed multifamily in markets with strong population growth, distressed shopping centres in supply-constrained markets.
NORTH AMERICA
AUSTRALIA
AUSTRALIA
CORE
Residential, stabilised industrial assets, premium office.
VALUE-ADD
Industrial (secondary in core and last mile), secondary residential and office.
Opportunistic
Industrial, data centre, land banking, infill sites, residential, retail with mixed use upside.
INDONESIA
EGYPT
EGYPT
CORE
Prime office in East Cairo, Grade A residential in new urban communities, entertainment-anchored retail.
Value-add
Mixed use development in upcoming areas around existing and new urban communities.
Opportunistic
Hospitality and adaptive reuse in central Cairo, mixed use developments in secondary governorates.
SAUDI ARABIA
saudi arabia
CORE
High-end residential development in Riyadh, Grade-A office in Jeddah, retail in Dammam.
Value-add
Mid-tier residential in emerging Riyadh Districts, hospitality in Makkah and Medina, industrial in Dammam Industrial City.
Opportunistic
Mixed-use projects in NEOM, luxury hospitality on the Red Sea Coast, tech-focused commercial real estate in Riyadh.
UAE
UAE
CORE
Secondary office in downtown Dubai, secondary residential in the Dubai Hills.
value-add
Secondary residential in Dubai Discovery Gardens and Arjan.
opportunistic
Primary residential in Ras Al Khaimah, secondary residential and office in Dubai Silicon Oasis.
INDIA
INDIA
CORE
Grade-A office, logistics in tier-1 locations.
value-add
Office, logistics in smaller locations, residential.
opportunistic
Integrated developments including industrial, shopping centres and other retail, and residential, and data centres.
INDONESIA
CORE
Hotels, lifestyle retail centre, industrial and logistics.
value-add
Older retail centre in secondary cities, local chain hotel, residential.
opportunistic
Strata title retail centre, hotels oversupply area, office.
malaysia
malaysia
CORE
Logistics in Greater KL, Iskandar Malaysia, and Penang, data centre development in Greater KL and Iskandar Malaysia, and office in KL CBD.
VALUE-ADD
Office in Greater KL, retail malls in Greater KL and Iskandar Malaysia, and hotels in Greater KL, Iskandar Malaysia, Penang and other major cities.
Opportunistic
Commercial buildings in suburbs, including offices and supermarkets.
SINGAPORE
SINGAPORE
CORE
Suburban retail and ramp-up logistics.
VALUE-ADD
Conservation shophouses (preserved historical buildings), development in secondary locations.
Opportunistic
Private residential development in the mass market non-landed housing segment.
HONG KONG
vietnAm
CORE
Distressed prime office and prime retail, education.
value-add
Decentralised office & retail, infrastructure repositioning, mixed-use in emerging locations, healthcare.
opportunistic
Senior care, industrial conversion, agriculture/food, data centre.
CHINA
CHINA
CORE
Multifamily in tier-1 cities, logistics in South China.
VALUE-ADD
Life science, business parks and prime retail in tier-1 cities.
Opportunistic
Distressed office and retail outlets in tier-1 cities, distressed logistics in tier-1 and neighbouring cities.
sOUTH KOREA
SOUTH KOREA
CORE
Residential (one or two-person household rental housing/ Senior care) and Prime office.
VALUE-ADD
Dry logistics in core areas and hotels in major cities.
Opportunistic
Cold storage in core areas and data centre development.
JAPAN
JAPAN
CORE
Large mixed-use office, prime retail, multifamily.
VALUE-ADD
Grade B office, logistics with higher vacancy, older multifamily assets.
Opportunistic
Corporate real estate, luxury development, offices with high vacancy.
TAIWAN
TAIWAN
CORE
Prime office and industrial sectors, technology-anchored assets in secondary locations.
value-add
Refurbishment of logistics.
opportunistic
Redevelopment of older buildings, including hotels in secondary locations, into residential.
IRELAND
CORE
Living sector assets, prime office in core CBD locations, retail on Grafton Street.
value-add
Retail (excluding Grafton Street).
Opportunistic
Non-core CBD office with capex/leasing uncertainty, older industrial assets located close to the city centre.
Portugal
CORE
Hospitality in Lisbon, Porto, and the Algarve, office in Lisbon and Porto, student and senior living.
value-add
Office in secondary locations,
hospitality, and logistics.
UNITED KINGDOM
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.
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, office in Paris CBD and other main cities, hotels, student and senior living.
value-add
Office in Paris and other regional cities, hotels, residential development via change of use.
Opportunistic
Office, retail, industrial.
SPAIN
CORE
Logistics, living sector, retail (shopping centres, retail warehousing, supermarkets).
value-add
Office in Madrid with a change of use potential, mainly to residential or hotel.
NETHERLANDS
CORE
Logistics, hotels, well-located prime office.
value-add
Secondary logistics and light industrial assets, prime retail (with potential for alternative use such as residential upper floors).
Opportunistic
Retail in key regional cities, lower quality offices near public transport hubs.
NORWAY
CORE
CBD office, hotels, offices in the western fringe of Oslo.
value-add
Central Oslo income-producing office, secondary office with change of use potential to convert to hotels.
Opportunistic
Failing Special Purpose Vehicles (SPVs) with long weighted average unexpired lease term (WAULT) properties, distressed residential plots.
SWITZERLAND
CORE
Prime residential in Zurich and Geneva, prime office in Zurich CBD, Basel, and Geneva, industrial and logistics on the main national highway.
value-add
Secondary residential, secondary office, 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 office, retail parks with limited local competition.
value-add
Student, logistics with short WAULT, secondary office.
Opportunistic
Residential, old logistics and office in attractive locations, office in regional markets.
FINLAND
CORE
Residential, office and logistics in Tampere.
value-add
Helsinki Metro office – either in a good location with the possibility to refurbish, or a prime asset in a secondary location – and affordable housing.
Opportunistic
Change of office use to residential conversions in major markets.
ROMANIA
CORE
Prime office in Bucharest, Cluj-Napoca, and Iași, prime industrial in Bucharest and the west/north west region of Romania.
value-add
Old hotels and historical properties suitable for reconversion in mountainous locations, secondary offices located in key areas of Bucharest (e.g., close to subway stations).
Opportunistic
Listed/heritage or historical residential buildings in central Bucharest, industrial assets in eastern Romania.
ITALY
CORE
Office in Milan, high street retail in Milan and Rome, logistics in the north.
value-add
Hospitality, build-to-rent in Milan, student university cities.
Opportunistic
Shopping centres, hospitality, supermarkets.