Worldview International Beat

Worldview: Germany


Germany remains the commercial real estate market powerhouse in Europe with its strongest quarter for any European country ever at the end of 2019, according to Real Capital Analytics. In 4Q2019 alone, investments in German commercial property reached nearly $37.4 billion, allowing the 2019 total to push past the $87 billion mark for the first time. The 2019 total represented a year-over-year increase of 3 percent. The United Kingdom came in second at $67.3 billion; France took the third spot with $47.7; and the Netherlands was a distant fourth with $25.2. 

It’s no surprise that Blackstone was far and away the largest single buyer in the European market, with nearly double the volume of number two, Union Investment. Rounding out the top 10 are Commerz Real, AXA Group, Swiss Life AM, Patrizia, Vonovia SE, BVK, Hana Financial, and ZBI. What’s interesting to note is that six of the top 10 investors in Europe in 2019 are headquartered in Germany. According to Senior Director of EMEA Analytics for Real Capital Analytics Tom Leahy, “This emphasizes the weight of German equity that is being dedicated to commercial real estate and also ties in with the fact that 2019 was a record year for Germany.” 

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Spring 2020 Cover


Worldview: Thailand

Spring 2022

Thailand, the world’s 24th largest economy by gross domestic product, had an expectedly turbulent 2021. 

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Worldview: China

Winter 2022

The Chinese economy continues to grow — but that expansion is simply not enough when compared to historical trends. 

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Worldview: Brazil

Fall 2021

The effects of the COVID-19 pandemic continue to produce chaos in global economies in 2021. Brazil suffered a sharp contraction in gross domestic product in 1Q2021 of 1.5 percent, with unemployment inching upward to 12.9 percent in May.

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Worldview: Spain

Summer 2021

In 2020, Spain experienced a historic drop in GDP, but it has since rebounded and is now looking at 4.4 percent growth this year, according to CBRE’s Real Estate Market Outlook. Real estate investment in the country is expected to reach upward of $14.6 billion. 

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