“Investors are no longer waiting for perfect conditions,” said Luke Dawson, Managing Director, Global & EMEA Capital Markets at Colliers. “We’re seeing a shift in mindset. Capital is being deployed more selectively, but with greater confidence than earlier in the year. There’s a clear focus on assets that offer long-term income resilience, especially in markets where pricing has adjusted and fundamentals remain intact. The appetite is there – it’s now about matching it with the right opportunities”
The report highlights several key trends:
- Germany is set for a surge in office disposals in H2, as developers and institutional owners capitalise on stabilising interest rates
- London remains highly active, with a broader buyer base and more prime assets coming to market
- Spain’s hospitality sector continues to attract global capital, with Colliers advising on the country’s largest-ever hotel transaction – the €430 million sale of the Mare Nostrum Resort Tenerife
- Alternatives such as self-storage, student accommodation and data centres are gaining traction, as investors seek diversification and long-term resilience
- Central and Eastern Europe is drawing renewed interest, with Romania recording its largest office deal in three years
“Market dynamics are shifting in interesting ways,” said Damian Harrington, Head of Research, Global & EMEA Capital Markets at Colliers.
“We’re seeing more activity in sectors that were previously considered niche, such as data centres and self-storage, as investors look for differentiated returns. At the same time, core markets like Germany and the UK are showing signs of renewed momentum, particularly in offices and logistics. While macro risks remain, the data suggests a more pragmatic, opportunity-led approach is taking hold”
The report also notes an uptick in corporate activity, including recapitalisations and platform acquisitions, as institutional investors look to scale and reposition portfolios. The pipeline of €100 million-plus deals is expanding, suggesting that capital is ready to deploy where the right opportunities emerge
Although policy risks and economic headwinds persist, Colliers expects sentiment to continue improving into 2026, supported by rising supply and a more pragmatic investor mindset.
