In 2023, France led the European real estate market with a Gross Value Added (GVA) of 301.53 billion euros, showing a modest year-on-year growth of 2.23%. Spain followed with 143.31 billion euros and a growth of 2.52%. Belgium experienced the highest growth at 4.77%, reaching 47.35 billion euros. Ireland and Croatia also showed significant growth at 7.0% and 7.09% respectively. Conversely, Greece saw a slight decline of 0.082%. Over the past five years, the compounded annual growth rates suggest steady increases across most countries, highlighting a generally positive trend across the continent.
Future trends to watch include the impact of rising interest rates and inflationary pressures on real estate investments and development. The increasing demand for sustainable and energy-efficient buildings is likely to influence the market, pushing investment towards green-certified real estate. Economic conditions and policy changes within the EU will continue to shape the landscape, especially with potential shifts in urban vs. rural real estate demand.
Top countries in Real Estate Gross Value Added by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 301,530 | 2023 | +2.24% | +2.23% | View data |
| 2 | 2 Spain | 143,310 | 2023 | +2.48% | +2.52% | View data |
| 3 | 3 Belgium | 47,350 | 2023 | +4.32% | +4.77% | View data |
| 4 | 4 Finland | 29,820 | 2023 | +2.89% | +2.93% | View data |
| 5 | 5 Ireland | 26,280 | 2023 | +2.56% | +7% | View data |
| 6 | 6 Portugal | 26,090 | 2023 | +2.62% | +3.27% | View data |
| 7 | 7 Greece | 25,560 | 2023 | +0.44% | -0.082% | View data |
| 8 | 8 Croatia | 5,430 | 2023 | +7.55% | +7.09% | View data |
| 9 | 9 Luxembourg | 5,330 | 2023 | +2.27% | +2.5% | View data |
| 10 | 10 Latvia | 3,850 | 2023 | +2.43% | +4.05% | View data |
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