Real estate in the real economy

Real Estate in the Real Economy €285bn Economy Contribution Crucial service to the economy: Half of all commercial property is leased to businesses who need the flexibility of renting rather than owning their premises. The EU commercial property sector supplies 3.5 billion m' of floor space to business. 4 million Jobs Economic contribution: Commercial property contributed EUR 285 billion to the EU economy last year - more than the automotive and telecoms sectors combined (in fact, 2.5% of European GDP). Jobs: The sector directly employs 4+ million people - more than the automotive, telecoms or banking sector. ustainability: Residential and commercial property are critical to achieving the EU's environmental targets. They offer huge energy- saving potential achievable through investment of around EUR 60 billion per year - a major source economic activity. Investment: The commercial property sector invests EUR 250 billion each year in building refurbishment and development. With infrastructure and housing, this represents more than 60% of all capital investment in the EU. €250bn Investment ECONOMIC DRIVER The real value of real estate Commercial property plays a vital role in every aspect of Europe's economy and is key to addressing two critical challenges of our time: providing liveable and functioning cities for a growing urban population, and reducing the EU's future energy needs. An efficient real estate sector provides the platform from which the EU economy can maximise its potential - supporting growth, jobs and sustainable living. É EPRA 'NREV Click here for full report