Global real estate investment activity is now approaching long-term averages despite geopolitical and macroeconomic uncertainty, according to Colliers’ Global Capital Flows H1 2026 report.
In Q2, rolling standing-asset transaction volumes rose 21.2% year-on-year, with EMEA remaining the world’s largest destination for cross-border real estate capital flows. The region accounted for 57% of activity across the leading global markets, while fundraising allocations targeting Europe increased from 16% to 21% in H1 2026.
Data centre investment activity almost doubled globally during Q2, overtaking senior living, while EMEA data centre volumes increased from $3bn to $10bn in a single quarter.
Multi-family remains the largest sector globally, while industrial accounted for 22.6% of investment and continues to attract strong fundraising momentum.
While the United States overtook the UK as the largest single destination for international real estate capital, France and Spain continued to gain share.
Luke Dawson, head of global and EMEA capital markets at Colliers, said: “Investors are becoming increasingly selective in their capital allocation decisions. The recovery is no longer defined by a broad market rebound but by conviction around sectors and markets with stronger structural demand, operational resilience and long-term growth potential. Europe continues to benefit from that shift.”
He added: “The recovery is becoming increasingly uneven. While overall investment activity is approaching long-term averages, capital is concentrating around a relatively small number of themes and markets. The acceleration in data centre investment, strengthening fundraising for Europe and growing appetite for higher-risk strategies all point to investors prioritising structural growth opportunities. The market is increasingly defined by selective capital allocation, with capital flowing to sectors and opportunities underpinned by long-term growth drivers.”
