DTZ - Investor Guide Europe

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Welcome
Welcome to the second edition of our European Investment
Guide. This document is the result of a partnership between
DTZ, global leader in property services and Herbert Smith
Freehills, the international commercial law firm.
The aim of this guide is to help investors’ make informed decisions when entering new
markets across Europe.
This guide becomes increasingly relevant when the share of investment by non-
Europeans has reached a new record level. In fact Europe attracts more cross border
capital than any other region across the globe. A trend that we expect to continue as the
recovery in Europe’s commercial real estate markets becomes more broad-based.
Our guide provides high level data on the investment market and key information on legal
context and taxes for 29 countries across Europe.
The guide includes:
• A short summary of the market
• A selection of key market indicators (invested stock, liquidity ratio, investment
volume, prime yields in the main office, retail and industrial markets, and investment
activity by asset type and source of capital)
• A “Legal and tax” section describing for each country the main aspects of property
laws (types of ownership and rights affecting ownership), the key stages in the
acquisition process, commercial leases and taxes.
We hope that the guide will prove a useful resource to those who are seeking a first
overview and understanding of the investment process across different European
jurisdictions. The guide owes much to the co-operation of the law firms who have
contributed chapters on their respective jurisdictions.
We hope you will find this publication useful and informative.
Magali Marton, MRICS
Head of Research, EMEA
DTZ
+33 (0) 1 4964 4954
Paul Boursican, MRICS
Head of International Capital
Markets, EMEA
DTZ
+44 20 3296 2019
Pierre-Nicolas Sanzey
Partner – Real Estate
Herbert Smith Freehills Paris
LLP
+33 1 53 57 72 46
3 Investors Guide to Europe 2015