UK: Savills has identified Dublin, Stockholm, Amsterdam, Berlin and Barcelona as the top five opportunity markets for expansion of the serviced apartment sector across Europe.
The five cities were all ranked highly due to them having “sizeable corporate and overseas visitor markets with strong outlook in terms of GDP and employment growth” in conjunction with constrained stock levels relative to their overnight visitor market.
According to Savills, €416.5 million was invested into Europe’s extended stay sector in 2015, a year-on-year increase of 32.9 per cent.
Of this money, 90 per cent was invested into the UK, with Germany (seven per cent), Switzerland (two per cent) and Belgium (one per cent) at the forefront of activity.
Commercial research director at Savills, Marie Hickey said: “We anticipate that evolving consumer trends of millennial business travellers and the success of AirBnB in highlighting alternative accommodation options, such as extended stay, across Europe will help the sector further tap into existing unmet demand.”
www.savills.com</p
