MetLife Investment Management -Mon, 11/09/2026 - 21:16

Q3 2026 European Commercial Real Estate Chartbook

Europe's commercial real estate recovery remains on track despite near-term capital markets headwinds. Improving economic growth, stabilizing market conditions and strengthening property fundamentals are expected to support a continued recovery across the region.

Our Q3 2026 European Commercial Real Estate Chartbook examines the economic, demographic and capital markets trends shaping the outlook, including:

Eurozone GDP growth is forecast to improve from 0.9% in 2026 to 1.1% in 2027.¹
CRE transaction volumes are expected to decline 5% in 2026 before rebounding 20% in 2027.²
European CRE values are projected to rise 2.1% in 2026 and 4.2% in 2027.³

Download the chartbook to explore the trends influencing Europe's commercial real estate market outlook.

Footnotes

1Source: MetLife Investment Management forecast as of 8/31/2026.

2Source: MetLife Investment Management forecast as of 8/1/2026; MSCI Real Assets, Q2 2026.

3Source: European Central Bank data through Q4 2025; MetLife Investment Management forecasts as of 8/1/2026.

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With more than 150 years of heritage, we deliver stability, disciplined risk oversight, and aligned investment strategies purpose-built for insurers. Our conviction-led, specialized teams span public and private markets, targeting dependable income and long-term total return. Recognized by Pensions & Investments as one of the world's Top 10 third-party insurance asset managers, we combine scale and expertise to help insurers address increasingly complex investment challenges. From strategic asset allocation to innovative, capital-efficient portfolio construction, our dedicated insurance specialists design solutions around each insurer’s unique objectives. Backed by on-the-ground expertise in 19 countries, we navigate regulatory and capital constraints with confidence across life, health, P&C and reinsurance.

MetLife Investment Management
One MetLife Way
Whippany, NJ 07981

Madhavi Chugh, CFA
Global Co-Head of Insurance Solutions
madhavi.chugh@metlife.com
(609) 216-6691

Jeannine Heal, CFA
Global Co-Head of Insurance Solutions
jeannine.heal@pinebridge.com
(732) 778-4734

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