"Over €12bn to be invested in PBSA over the next two to five years, led by Spain, Italy, Germany, France, and Portugal"

"We anticipate increasing activity driven by opportunity-led investors enticed by the prospect of price adjustments, as history shows that deals pursued during challenging times often yielded superior returns in the long run"

"We expect investment activity to remain subdued in Europe until the second half of the year when the economy will slowly start to pick up"

"Bright spot found in southern Europe"

"There is continued strong investor interest in Purpose Built Student Accommodation (PBSA) across Europe, driven by rising total numbers of students attending university and a strong growth in international student numbers."

"Preliminary results suggest that the total investment volume for Q2 will reach slightly less than €60bn"

"Towards the end of 2022, we expect to see the next wave of portfolio transactions, as the first generation of developers and operators will be ready to sell their assets and exit"

"Recent market activity reflects a shift in investor behaviour, in terms of sectors and attitude to risk, compared to pre-Covid-19 times"

"The pandemic has raised a lot of questions on the short- and long-term implications of the health crisis on real estate. We attempt to answer some of them in this publication"