1、hhEUROPEAN LIVING SURVEYEUROPEAN LIVING SURVEY2 0 2 5CONTENTSCONTENTS020201010303INTRODUCTIONINVESTMENTS IN LIVINGSET TO RISE IN THE NEXTFIVE YEARSINVESTOR INTEREST STILL DOMINATED BYPRS BUT INTEREST IN PBSA CONTINUESTORISE0707PBSA EXPECTED TO PERFORM BEST IN 2025,BUYER/SELLER PRICING MISMATCHES THE

2、 MAIN CHALLENGE FOR 2025 0808SUSTAINABILITY STILL A VITAL CONSIDERATION FORLIVING INVESTORS04040505UK,SPAIN AND GERMANY THE KEY GEOGRAPHIC TARGETS FOR 2025FORWARD COMMITMENTS,STABILISED STOCK AND JOINT VENTURES ARE THE MOST ATTRACTIVE DEAL STRUCTURES06060909ECONOMIC OUTLOOK EXPECTED TO SUPPORT LOWER

3、 INTEREST RATES AND PRIME YIELDSCONCLUSIONEUROPEAN LIVING SURVEYEUROPEAN LIVING SURVEY2 0 2 5INTRODUCTION01INTRODUCTION014EUROPEAN LIVING REPORT3CUSHMAN&WAKEFIELDINTRODUCTIONINTRODUCTIONINTRODUCTIONThe Cushman&Wakefield European Living Investor Survey for 2025 therefore takes on added significance t

4、his year insofar as it seeks to assess whether investor confidence is another one of these factors pointing to market recovery this year.Our survey asked some of the largest Pan European Living investors for their views on the outlook for the sector,the opportunities and challenges across the living

5、 market and the economic factors that are likely to shape this year.Based on our findings,investors are indicating that the living market in Europe is at an important inflection point on the road to recovery.*https:/ REPRESENTED A DEMANDING YEAR FOR THE EUROPEAN LIVING SECTOR AGAINST THE BACKDROP OF

6、 A VARIETY OF CHALLENGES INCLUDING THE ONGOING GRADUAL REPRICING OF THE MARKET AND MUTED INVESTMENT ACTIVITY AS WELL AS ELEVATED INTEREST RATES AND CONSTRUCTION COSTS.WE SENSE HOWEVER THAT THE CONDITIONS ARE NOW FALLING INTO PLACE FOR THE SECTOR TO START TO RECOVER THIS YEAR,A VIEW WE OUTLINED INOUR