Resource context
The “EMEA Living Investor Survey 2024” is a report published by Cushman & Wakefield. It presents findings from an investor survey on the “living” real estate sector across Europe, the Middle East and Africa (EMEA). The report lists the following authors: Tom McCabe, Stephen Screene, Alexandra Paulin, Joep van de Vorstenbosch, Millie Harper, Mark Clegg, Geoff McCabe, and Patrick Hogan.
Market position of “living” in European real estate
The report describes “living” as a fast-growing segment in Europe, stating it now represents around 20% of the European real estate market. This shift is linked to rising transaction volumes and increased allocations to living assets in real estate indices, indicating that residential-focused investment has become more central within institutional portfolios.
Where investors are concentrating capital
Investor interest is highlighted particularly for the Private Rented Sector (PRS) and student accommodation. The report also points to the UK and Germany as markets expected to benefit most from a recovery in living investment volumes, implying these countries are seen as key anchors for renewed activity.
Preferred deal structures and investment strategies
According to the survey results presented, investors most frequently prefer stabilised stock, joint ventures, and forward funding as transaction and investment structures. These approaches are framed in the report as ways investors aim to balance risk and scale exposure in a changing market environment.
Macro conditions and pricing expectations
The report notes expectations for a slightly weaker European economic environment in 2024, alongside only modest interest-rate reductions. Within this context, investors surveyed anticipate that prime living capital values could bottom out by the second quarter of 2024, suggesting an expected turning point in pricing.
Sustainability as an investment objective
Sustainability is presented as a major portfolio objective in the living sector. The report states that nearly 80% of surveyed investors consider sustainability a key priority, and it indicates a willingness among investors to pay a premium for assets with strong sustainability credentials. This signals that environmental performance is increasingly treated as a value driver in investment decisions.
Forward-looking allocations and scale of expected investment
A key forward-looking finding in the report is that almost 80% of investors plan to increase living-sector investment over the next five years. The report links this to a potential annual investment range of approximately €70–85 billion across the EMEA region, describing the scale of capital that could be directed toward housing-related asset classes.
Segment evolution and emerging areas of interest
Beyond PRS and student accommodation, the report indicates rising interest in social/affordable housing and co-living. It also suggests that improved pricing alignment and a more favourable interest-rate outlook could help support a recovery in living investment volumes starting in 2024, positioning the sector’s growth prospects alongside the constraints of the broader economic cycle.