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.

European healthcare investment maintained an upwards trend rising a further 59% quarter-on-quarter to €2.8bn in Q3. The surge came as a result of the €1.4bn Icade Santé sale to Primonial REIM, pushing the Q3 investment volumes up 12% year-on-year. However, the rolling 12-month total of €9bn is a 37% fall year-on-year and 21% below the five-year average.

France attracted the most investment of any European country during the quarter, capturing 31% of the European market share, up from 14% in the previous year. Thanks to the €1.4bn transaction, clinics and medical offices became the second-largest sector this year with a market share of 35%, only slightly behind care homes with 36%. Understand the key transactions detailed in the table below, which presents major care home deals since July.

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.

Talk to us about healthcare


Jones Lang LaSalle (JLL), ainsi que ses différentes filiales et entités, est une société internationale leader du conseil en immobilier d'entreprise. Nous prenons la responsabilité de protéger avec la plus grande rigueur les informations personnelles qui nous sont confiées. Les données saisies dans le présent formulaire seront enregistrées dans un fichier informatisé et transmises aux équipes commerciales de JLL en lien avec vos enjeux immobiliers. Elles sont nécessaires pour vous recontacter et échanger sur votre projet. Elle pourront également être utilisées par nos équipes marketing à des fins d’analyses ou pour vous informer sur les dernières tendances de l’immobilier ou vous inviter à nos évènements exclusifs. Nous nous engageons à conserver les informations personnelles qui nous sont confiées, avec le niveau de sécurité approprié, et aussi longtemps que nous le jugerons nécessaire pour toute raison professionnelle ou légale. Nous supprimerons ensuite vos données de manière sûre et sécurisée. À tout moment, vous avez la possibilité d’affiner vos préférences en termes de communication et de vous désabonner. Pour plus d'informations sur la manière dont JLL traite vos données personnelles, veuillez consulter notre déclaration de confidentialité.

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

Disclaimer: © 2023 Jones Lang LaSalle IP, Inc. All rights reserved.

Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.