Introduction:

The Living Conference is one of the leading European events dedicated to indirect residential real estate investments. Hosted by the FondsForum platform on 5/6 May 2026 at the Hilton Frankfurt City Centre, it brought together around 100 participants and 35 distinguished speakers. In only its second year, the conference offered a high-quality program of presentations, panels and expert interviews, covering not only Europe but also North America and Asia. The attendance of investors, consultants, and market experts underlined the relevance of the format and its growing importance for the residential investment community.

Day 1 – Tuesday, 5 May 2026 

I. Situation 

The agenda commenced with the economic outlook for 2026 and beyond. Capital markets remain resilient, while Germany stands out through its fiscal impulse from defense and infrastructure. A closer look at the German housing market followed. Residential remains an important diversification component, supported by stable employment, rental demand and inflation protection. Structural demand drivers were then highlighted, with more single-person households increasing demand, especially in selected metropolitan areas. On the supply side, Germany remains far below demand despite rising permits by around 11% in 2025, making faster approvals and small to medium-sized projects key. The first panel discussed the investment situation in German residential real estate. Investor appetite remains visible, but Germany needs more investor-friendly regulation to fully benefit.

 II. Special Topics

The second agenda section started with affordable housing in Europe. With more than 50 million people overburdened by housing costs and around 23 million affordable homes needed, public-private partnerships were presented as essential. Housing as social infrastructure was addressed next. Stable cash flows from public or non-profit tenants are combined with social impact, while around 910,000 social housing units are missing in Germany. The following interview gave a practical view on municipal housing planning. Urban development companies can act long-term and improve assets often traded without meaningful upgrades. Before lunch, the focus shifted to law and tax developments. Fragmented European frameworks make local structuring essential.

 III. Investor Views

The afternoon section on investor views opened with residential investment advantages. Living was presented as resilient due to its long shelf life, structural undersupply and low vacancy, while diversification helps hedge regulatory risk. Investment strategies were discussed next. Forward deals reduce execution risk, while develop-to-hold offers better entry values and rental growth participation. Key residential risks then came into focus: regulation, affordability and energy efficiency, all of which increasingly influence values and exit liquidity. Lastly, operating cost management was addressed. Energy was highlighted as a key cost driver, making active procurement increasingly relevant.

 IV. Investment Chances

The final agenda section of the first day opened with built-to-rent concepts. Demand is growing across Europe but remains concentrated in urban hotspots, making efficient layouts and industrialized construction key. Asset and property management alignment were then discussed. Vertical integration was highlighted as important for better control over operations, data, and value creation. The first day concluded with a checklist for purchasing residential real estate. Germany was presented as an attractive entry point, while “Transform to Green” strategies require disciplined technical due diligence.
 

Day 1 – Wednesday, 6 May 2026 

V. Residential Markets in Europe

The second day started with European residential markets, beginning with Germany. The presentation highlighted Germany’s polycentric structure, with attractive opportunities beyond A-cities. UK: A deep housing shortage, a backlog of more than one million homes and growing rental demand support the single-family rental segment. Denmark: Danish residential was presented as the Nordic “safe haven”, with Greater Copenhagen standing out due to around 2% vacancy and expected rental growth of around 5%. Finland: Recent oversupply is expected to reverse as construction has fallen by around 50% from peak levels, creating Core+ and value-add opportunities. Nordics: Demand continues to outpace new supply in Copenhagen, Helsinki, Stockholm and Oslo, supporting rental growth and a positive outlook driven by strong income-growth fundamentals. Poland: A housing undersupply of around 1.5 - 2.0 million units and only around 2% institutional rental ownership create clear PRS early-mover potential. Netherlands: The market remains relevant despite its size, supported by strong investment volumes and a significant housing shortage, while regulation can support resilient income.

VI. Residential Markets Worldwide

The last section focused on residential markets outside Europe, starting with Canada. Fast population growth, low vacancy, and affordability constraints continue to support rental demand. USA: Purpose-built townhome rentals were presented as attractive, with a housing shortfall of around 10 million homes and very low institutional BTR penetration. Japan: Japan is APAC’s most established multifamily market, accounting for close to 55% of APAC living investment volumes in 2025, supported by urban migration and wage growth. The final point on the agenda gave a broader view on European Living investment. A housing shortage of around 9.6 million dwellings supports rental growth, while core capital is gradually returning, and PBSA remains the strongest alternative segment.

The Living Conference concluded with a shared lunch and a final exchange of perspectives. Overall, supply-demand dynamics remain supportive, while demographic shifts continue to drive demand for PBSA, senior living, and other living formats. Taxation and rent regulation remain challenging but also create opportunities for alpha. The wall of capital appears to be returning, with positive momentum in core-plus and value-add strategies.