Where do European Property Values Go fro here?

CRE is an appealing long-term investment

Cumulative Total Unlevered Returns On Real Estate Investment

3-Yr Hold (bought in 2020)

5-Yr Hold (bought in 2018)

7-Yr Hold (bought in 2016)

10-Yr Hold (bought in 2012)

Office

13%

34%

49%

89%

Industrial

43%

85%

110%

214%

Retail

1%

5%

10%

45%

All Property Types

15%

34%

48%

92%

Source: MSCI, calculations by Cushman & Wakefield Research

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