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Investors seeking to move up the risk curve have ‘no shortage of options’ in Europe, according to Cushman & Wakefield’s International Investment Atlas.

Opportunities in Europe are to be found, for example, in the development and repositioning of assets, says Michael Rhydderch, C&W’s head of European capital markets.

Stressed markets like Italy are repricing for the long term, while emerging markets like Moscow and Istanbul offer ‘real excitement,’ said Rhydderch. ‘However for the immediate term, we’d also suggest looking closely at the Netherlands where stress is real but so too is repricing and in world class cities like Amsterdam or global trading hubs like Rotterdam, distress should bring opportunity.’

Debt provision is also a route to investment that more players should be looking at in Europe where trends are lagging other regions, says the adviser. Buying loans and assets from the banks as they deleverage should be a priority globally for those with the infrastructure to manage the job.

Michael Lindsay, head of EMEA corporate finance, said: ‘With increasing supply, there is a real prospect that it will become a buyer’s market and while countries like the US, UK, Spain and Germany will see most activity, the supply of loans and assets will be much broader than it has been. More large portfolio loan sales will hit the market, but there will also be more smaller portfolios as well, with increased awareness of the growing liquidity in this part of the market.’

For risk-averse buyers, C&W says London, Munich and Berlin continue to be the top bets, followed by Paris and Stockholm offer good potential. ‘More than most we favour prime retail not just offices in these cities. We also think logistics around most large cities east and west offers a robust market capable of good long term growth thanks to changes in manufacturing as well as the impact of e-commerce and historically low levels of new speculative supply.’