The commercial real estate industry contributes 2.5% to the total economy of Europe, more than the automotive, telecommunications and banking industries, according to new research commissioned by the European Association for Investors in Non-listed Real Estate Vehicles (INREV) and the European Public Real Estate Association (EPRA).
While other studies have shown that real estate in all forms accounts for nearly 20% of total economic activity, the new study reveals that the commercial property sector alone generated EUR 285 bn for the European economy in 2011 and employs over four million people………………………………………..Full Article: Source