BRUSSELS, BELGIUM-An increase in the proportion of European real estate held in the form of listed Real Estate Investment Trusts would be of immense benefit to governments, capital flows, and underlying property markets, says European listed real estate association EPRA.

EPRA Finance Director Gareth Lewis says in a new study that the European REIT market presents huge potential but is relatively underdeveloped; only 2.5% of Europe’s real estate is held through the fiscally-favored vehicles, around half global average. While Europe contains 41% of the world’s real estate, the proportion held in listed vehicles is only 20%. “Closing that gap would generate important tax revenues for governments, improve inflows of capital into European member states, provide liquidity in an illiquid market, and improve the built environment,” he says.

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