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According to Savills, French SCPIs* are accelerating deployment of capital across Central and Eastern Europe as well as showing early signs of interest in the Nordic markets. At the same time, they are continuing to expand existing exposure to their core markets, particularly the United Kingdom and Spain.
This evolution has been underpinned by improving market fundamentals and continued aspiration to diversify, says the international real estate advisor. Following a low point in April 2025, the monthly SCPI performance index has recovered by 3.3% as of January 2026, pointing to a stabilisation of both valuations and income flows. Total returns reached 6.3% in 2025, up from 5.9% the previous year, reflecting resilient rental income and a gradual recovery in capital values.
Stronger performance has translated into renewed investor appetite, says Savills. Net inflows reached €4.5 billion in 2025, up 44% year on year, with a strong final quarter totalling €1.3 billion. Capital has been concentrated in a number of leading vehicles, notably Transitions Europe, managed by Arkéa, Corum Origin and Iroko Zen, with each attracting over €500 million. This concentration reflects a clear preference for SCPIs with an international or pan-European strategy, as investors increasingly prioritise geographic diversification.
Emma Steele, Director, Global Cross Border Investment at Savills, comments: "Geographically, the United Kingdom remains a priority destination for SCPIs given the depth of opportunity, liquidity and ability to purchase within a short timeframe. Traditional sectors will continue to remain in favour but we expect to see expansion into alternative operational assets this year as well."
James Burke, Director, Global Cross Border Investment at Savills, adds: "The most notable recent development for SCPIs is the acceleration of activity in Central and Eastern Europe, with Poland standing out as a key target market. In terms of asset classes there have been a number of logistics and hotel transactions. These include Epsicap's acquisition of the 7R City Flex logistics asset in Poznań and Remake's purchase of four B&B hotels located across Poland, and a logistics facility in Wolbórz. Offices continue to attract investment, with Arkéa, on behalf of Transitions Europe, deploying in the Brain Park A office building in Kraków."
According to Savills, there is also growing evidence of interest in the Nordic markets. While activity in Scandinavia remains more limited in absolute terms, recent prospecting efforts across the Nordics suggest the region is gaining traction.
*SCPI = Société Civile de Placement Immobilier, real estate investment vehicles that enable individuals to invest in a professionally managed property portfolio
