Q1 EMEA Living
Capital Markets

The EMEA Living Capital Markets bulletin monitors market trends and provides commentary on a quarterly basis across the continent.

March 11, 2020

In 2019, JLL brought together student housing, coliving, multifamily, affordable housing and healthcare under one team to represent the full lifecycle of Living. These sectors all depend on demographic trends such as urbanisation, an ageing population and changing household formation rates.

The JLL Living Quarterly Bulletin aims to provide an update on the key issues in each sector for all our clients, whether you are interested in just one sector or the whole Living market.

The Q1 edition of the EMEA Living Quarterly Bulletin refers to 2019 data and sums up general trends that occurred in this period. Living in general is benefiting from the shift in capital allocations, with Living investment accounting for 21% of all European real estate activity in 2019. It is comfortably the second-largest real estate asset class in Europe and will continue to benefit from capital that is attracted to stable risk adjusted income and defensive characteristics.


The first edition of the EMEA Living Quarterly Bulletin has coincided with the outbreak of COVID-19 and its spread across the globe has taken many by surprise. While longer term impacts are not known at this stage, investment activity is likely to slow in H1 2020 as investors react to uncertainty.

In the short to medium term, Living assets and in particular multifamily, tend to have more defensive characteristics. The sector benefits from stable income streams and the ability to actively maintain rents to limit void periods. Demand is typically resilient to economic shocks and is fundamentally supported by the unaffordability of home ownership, urbanisation and increased interest in more flexible-living solutions. However, diminishing consumer confidence and reduced mobility will impact demand during this period of uncertainty.

Download our EMEA Living Capital Markets Quarterly Bulletin below.

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