The provided texts consist of two related documents from CBRE, focusing on the European commercial real estate market outlook for 2025 and investor sentiment. The first source is an excerpt from the European Investor Intentions Survey 2025, which indicates a more optimistic market recovery, noting that "Living" has emerged as the most preferred investment sector, supplanting Industrial. The second, more extensive source offers a European Real Estate Market Outlook 2025, presenting economic forecasts—including moderating inflation and interest rate cuts—alongside detailed sector-specific analyses for Living, Logistics, Office, Retail, Hotels, and Data Centres. Both documents emphasize the critical role of sustainability and the challenging regulatory landscape, highlighting that assets with strong ESG credentials will likely experience enhanced value and cash flow stability. Overall, the documents project a gradual but uneven market recovery driven by improved economic conditions and significant shifts in investment preferences toward non-traditional sectors like Living and Data Centres.