Investment in the European real estate industry has grown by 25% over the last 6 months, compared to the same period last year, resulting in the fasted growth rate seen since 2007, according to a recent report by international consultants, Savills.

In the first half of the year €102,500 million was invested in European real estate and the organization forecasts that by the end of the year this sum will more than double to reach €230,000 million.

Home sales in the UK, France and Germany will account for two thirds of the total number of investments. Out of the 16 European markets that were analysed in the report office buildings accounted for 39% of the types of properties that are attracting the most investment.

However in a separate report by El Economista retail premises such as supermarkets and warehouses were outperforming office purchases in a number of countries; 53% of property sales in Spain were retail premises, 62% in Norway and 42% in Germany. In the last quarter offices and retail premises accounted for 83% of investment in Portugal.

Foreign investors are still accounting for a large number of property purchases. The report showed there was ‘notable activity’ from American investors and there was ‘growing interest’ from investors from Asia and the Middle East.

In the first three months of the year 17% of property transactions in Spain were to foreign buyers, according to “Spain Real Estate Flash” report published by BBVA Research.

‘The sound health of some of the key economies that generate demand for housing in Spain, such as Germany and the United Kingdom, combined with the depreciation of the euro, continue to be major assets for the Spanish real estate market’, it said.

The report by Savills forecasts a 10-20% increase in investment activity in the European real estate market in the remainder of 2015.