Sector Keys: European Real Estate: An era of consolidation, or investor solidarity?

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Sector Keys: European Real Estate: An era of consolidation, or investor solidarity?

Global Research

10 July 2026ab

Sector Keys: European Real Estate Equities

Europe including UKAn era of consolidation, or investor solidarity? July 2026

Real Estate

Charles Boissier, CFA

Sector Keys: Our monthly update on listed European Real Estate Analyst

Our Sector Keys report is a monthly update that tracks the latest trends and developments in the European real estate market. Each edition is charles.boissier@ubs.com

updated for performance and valuation (versus history and other asset classes); direct market data (rents, yields, occupancy) depending on +44-20-7568 4415

availability; financing; company and sector news flow; and top picks. Zachary Gauge

Analyst

Month in review: June 2026 zachary.gauge@ubs.com

+44-20-7901 5534

European listed real estate strengthened through June, with the FTSE EPRA Nareit Developed Europe Index rising +0.6% as easing rate

expectations, improving capital markets sentiment and balance sheet activity supported the sector. Central banks appear closer to a policy plateau, Nadir Rahman

helping bond yields retrace from recent highs. UK logistics continued to outperform, Continental landlords benefited from asset recycling and Analyst

financing improvements, and German residential sentiment improved following greater clarity on regulation. Overall, the sector appears to be nadir.rahman@ubs.com

+44-20-7567 1750

progressing from stabilisation towards recovery, while remaining sensitive to the macro backdrop.

Tommaso Operto, CFA

Q2 preview Analyst

tommaso.operto@ubs.com

Real estate fundamentals remain resilient heading into Q2 results, although performance is likely to remain uneven across subsectors. Retail +41-44-239 2049