European Multifamily Market Dynamics

Discover multifamily market dynamics across Europe

Explore the interactive map below updated on a quarterly basis. Find out which markets have seen the largest investment volumes in the past 3 years, search for or click on a city to learn about residential rental growth, prime net initial yields, market trends, supply, demand and rental regulations. This map covers 25 cities across 12 countries but JLL has much more insight to share. If you would like to know more, please get in touch with us through the question box below.

Key research findings

European multihousing investment of €8.8bn in Q3 reflects a 78% climb on the same period last year. The uptick was most notable in Germany, with double the transactional volumes of last year. Other key markets including the Netherlands, the UK and Sweden reported strong annual growth.

A number of large portfolios saw the level of forward investment dip to 25% of the total, now in line with historic trends. Construction cost growth has slowed and is beginning to drop in some markets, as residential permits have also begun to pick up. Similarly the pace of rental growth is also slowing, on average rising 6% annually for new city lets in Europe, compared to 8% during the same period last year.

Affordability is key for both tenants and investors, with rents in almost half of capital cities requiring more than 40% of income and two-thirds requiring at least 30%. Experienced investors are turning their attention to mid-rent tenures, enabling social impact and taking advantage of government grants.

Find out more about European multifamily market

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Gemma Kendall Head of Multifamily Investment, International Capital Markets EMEA

Nick Whitten Head of EMEA & UK Living Research

Alex Buller Director - International Capital Markets EMEA

Emma Rosser Director, Living Research and Strategy, EMEA

Dominika Mocova Senior Analyst, Living Research and Strategy, EMEA

Sebastian Grimm EMEA Head of Multifamily, Value & Risk Advisory

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This report has been prepared solely for information purposes and does not necessarily purport to be a complete analysis of the topics discussed, which are inherently unpredictable. It has been based on sources we believe to be reliable, but we have not independently verified those sources and we do not guarantee that the information in the report is accurate or complete. Any views expressed in the report reflect our judgment at this date and are subject to change without notice. Statements that are forward-looking involve known and unknown risks and uncertainties that may cause future realities to be materially different from those implied by such forward-looking statements. Advice we give to clients in particular situations may differ from the views expressed in this report. No investment or other business decisions should be made based solely on the views expressed in this report.