European Healthcare Real Estate Interface

Key Country Demographics

What is the relative scale and nature of demand across Europe?

Rising elderly populations and growing healthcare expenditure are both core demand drivers for healthcare services and healthcare real estate, including long-term residential care facilities. Explore which markets have the strongest fundamentals using the map below. Click on a country to see more details relating to population and health expenditure.

Care Home Investment Yields

How do these compare to other sectors? Understand pricing levels across mature and growing markets.

Compare prime net investment yields for care homes across Europe in the following visualisation. Prime yields relate to well-located, modern quality stock, let on long-term institutional leases to high quality operators.

Selected Care Home Transactions

What are the key transactions in each market and who do they involve? See the deals and key players influencing this growing market.

The healthcare sector saw €1.2bn invested across Europe in Q1 2023, a 64% drop year-on-year and a 54% drop on the five-year average. However, over the past 12 months, a total of €10bn was invested, down 19% compared to a record previous year thanks to relatively resilient investment in the second half of 2022 despite economic headwinds. The two largest markets were again the UK (€506m, 41% of Q1 2023) and Germany (€257bn, 21%). Belgium was the only market that saw its investment volumes increase, up 100% year-on-year, thanks to a €100m care home portfolio acquired by BNP Paribas. The vast majority of investment in Q1 2023 was in the care home sector (75%), with some investment in clinics/medical offices and mixed-use assets. Understand the key transactions detailed in the table below, which presents major care home deals since October. Use the search function to narrow down the deal size or investigate specific sellers and buyers.

Key Care Home Operators

Who is operating care homes? Recognise which companies are market and European leaders.

Care home operations can be fragmented in many European countries, though there are major players operating across markets. The table below identifies some of the major care home operators by geography and their ‘in-country’ revenues from the last two years. Use the search function to see which operate across geographies, or to focus on a specific country.

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Nick Whitten

Head of EMEA & UK Living Research

Emma Rosser

Associate UK Living Research and Strategy

Harry Clarke-Williams

Director, EMEA Healthcare Capital Markets

John Gladstone

Lead Director, EMEA Healthcare Capital Markets