Europe's non-performing loan market appears more stable than conditions in individual countries suggest. In 2025, the volume of non-performing loans held by large banks directly supervised by the European Central Bank fell by just €1.81 billion to €355.16 billion. Behind this near-unchanged total, however, risks are shifting: NPL ratios rose in Germany and France, while Spain and other southern European countries continued to reduce theirs, according to Drooms' report "Europe's NPL Market 2026."

INVESTIKA realitní fond, managed by Czech investment company INVESTIKA, has crossed the CZK 30 billion threshold in net asset value (NAV) for the first time in its history. The fund, which launched in September 2015, holds 65 properties across six European countries and positions itself as the largest non-banking real estate fund for retail investors in the Czech Republic and Slovakia.

NEPI Rockcastle has agreed to sell the Ozas Shopping and Entertainment Centre in Vilnius, Lithuania, to the UTIISIB UAB 'Prosperus Retail Property Fund' for a gross transaction value of €200 million. The deal generates estimated net proceeds of €179 million, representing a 13% premium to the property's IFRS net asset value as of 30 June 2026. The transaction is subject to customary closing conditions and regulatory approvals, with completion expected in the fourth quarter of 2026.

NEPI Rockcastle has acquired MegaPark Barakaldo, a shopping and leisure complex in Bilbao, Spain, from Le Retail Hiper Ondara S.L.U., part of HLRE Socimi, for a cash consideration of €252 million net (gross purchase consideration of €254 million). The deal marks the company's first investment outside Central and Eastern Europe (CEE), where it operates shopping centres across eight countries.

Hungary-owned GESTOR Investment Ltd. has further strengthened its presence on the Iberian Peninsula at the end of 2025 by expanding its portfolio with new hotel assets in Salou, Spain, and in downtown Porto, Portugal. The transactions fit well with Gestor’s long-term growth and geographic diversification strategy.

Cordia has strengthened its leadership structure in Spain and Romania by appointing dedicated local CEOs to lead day-to-day operations in each market.

Budapest-based real estate investor and asset manager Indotek Group announced it has acquired a Spanish portfolio of 524 residential and commercial properties worth €43.5 million. The deal was structured as a transaction involving both non-performing loans (NPL) and real estate assets.

Romania stands out in the European fiscal landscape with property taxation levels significantly lower than the EU average, according to an analysis by Cushman & Wakefield Echinox based on Eurostat data. This position has enhanced the attractiveness of the local real estate market and established a favorable tax framework for owners and investors.

Europe is experiencing a surge of interest from both real estate investors and international students, making it the ideal destination for operators and developers in the student housing sector. The latest data from Bonard has highlighted the drivers behind Europe's rise as the destination of choice for students and investors.

Romanian developer Forty Management has purchased a land plot spanning 12 ha in Bormujos, a suburb of Seville, for a new urban regeneration project under the Lagoon City brand.