Data / Rankings / Net turnover in real estate activities / EU countries

EU countries by net turnover in real estate activities

Germany had the highest net turnover in real estate activities of 27 EU countries in 2023, at €131.74 billion. Cyprus had the lowest, at €357.99 million. The median was €8.31 billion and the figure for the European Union (27) was €560.91 billion. Source: Eurostat, European Commission.

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Highest131,738.9Germany
Lowest358Cyprus
Median8,314.227 EU countries
European Union (27)560,910.4History

Map of EU countries, 2023

Austria: 23,566.2 EUR millionBelgium: 18,849.7 EUR millionBulgaria: 2,576.7 EUR millionCyprus: 358 EUR millionCzechia: 13,627 EUR millionGermany: 131,738.9 EUR millionDenmark: 16,311 EUR millionEstonia: 2,558.3 EUR millionSpain: 39,203.3 EUR millionFinland: 14,102.7 EUR millionFrance: 94,589.5 EUR millionGreece: 3,962 EUR millionCroatia: 1,534.5 EUR millionHungary: 8,314.2 EUR millionIreland: 8,045.8 EUR millionItaly: 44,855 EUR millionLithuania: 2,619.6 EUR millionLuxembourg: 2,409.8 EUR millionLatvia: 2,144.2 EUR millionMalta: 869.5 EUR millionNetherlands: 34,812.6 EUR millionPoland: 31,311.5 EUR millionPortugal: 12,985.1 EUR millionRomania: 5,324.4 EUR millionSweden: 38,056.4 EUR millionSlovenia: 1,196.6 EUR millionSlovakia: 4,988 EUR million
  • Under 2,000
  • 2,000 to 5,000
  • 5,000 to 14K
  • 14K to 34K
  • 34K and over
EUR million, 2023. Source: Eurostat, Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act). Boundaries: Natural Earth (public domain).

All EU countries, 2023

Germany: 131,738.9 EUR millionGermany131,738.9France: 94,589.5 EUR millionFrance94,589.5Italy: 44,855 EUR millionItaly44,855Spain: 39,203.3 EUR millionSpain39,203.3Sweden: 38,056.4 EUR millionSweden38,056.4Netherlands: 34,812.6 EUR millionNetherlands34,812.6Poland: 31,311.5 EUR millionPoland31,311.5Austria: 23,566.2 EUR millionAustria23,566.2Belgium: 18,849.7 EUR millionBelgium18,849.7Denmark: 16,311 EUR millionDenmark16,311Finland: 14,102.7 EUR millionFinland14,102.7Czechia: 13,627 EUR millionCzechia13,627Portugal: 12,985.1 EUR millionPortugal12,985.1Hungary: 8,314.2 EUR millionHungary8,314.2Ireland: 8,045.8 EUR millionIreland8,045.8Romania: 5,324.4 EUR millionRomania5,324.4Slovakia: 4,988 EUR millionSlovakia4,988Greece: 3,962 EUR millionGreece3,962Lithuania: 2,619.6 EUR millionLithuania2,619.6Bulgaria: 2,576.7 EUR millionBulgaria2,576.7Estonia: 2,558.3 EUR millionEstonia2,558.3Luxembourg: 2,409.8 EUR millionLuxembourg2,409.8Latvia: 2,144.2 EUR millionLatvia2,144.2Croatia: 1,534.5 EUR millionCroatia1,534.5Slovenia: 1,196.6 EUR millionSlovenia1,196.6Malta: 869.5 EUR millionMalta869.5Cyprus: 358 EUR millionCyprus358Germany: 131,738.9 EUR millionGermany131,738.9France: 94,589.5 EUR millionFrance94,589.5Italy: 44,855 EUR millionItaly44,855Spain: 39,203.3 EUR millionSpain39,203.3Sweden: 38,056.4 EUR millionSweden38,056.4Netherlands: 34,812.6 EUR millionNetherlands34,812.6Poland: 31,311.5 EUR millionPoland31,311.5Austria: 23,566.2 EUR millionAustria23,566.2Belgium: 18,849.7 EUR millionBelgium18,849.7Denmark: 16,311 EUR millionDenmark16,311Finland: 14,102.7 EUR millionFinland14,102.7Czechia: 13,627 EUR millionCzechia13,627Portugal: 12,985.1 EUR millionPortugal12,985.1Hungary: 8,314.2 EUR millionHungary8,314.2Ireland: 8,045.8 EUR millionIreland8,045.8Romania: 5,324.4 EUR millionRomania5,324.4Slovakia: 4,988 EUR millionSlovakia4,988Greece: 3,962 EUR millionGreece3,962Lithuania: 2,619.6 EUR millionLithuania2,619.6Bulgaria: 2,576.7 EUR millionBulgaria2,576.7Estonia: 2,558.3 EUR millionEstonia2,558.3Luxembourg: 2,409.8 EUR millionLuxembourg2,409.8Latvia: 2,144.2 EUR millionLatvia2,144.2Croatia: 1,534.5 EUR millionCroatia1,534.5Slovenia: 1,196.6 EUR millionSlovenia1,196.6Malta: 869.5 EUR millionMalta869.5Cyprus: 358 EUR millionCyprus358
EUR million. Source: Eurostat, Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act). Retrieved 2026-10-12.

Full ranking

RankEU countries2023
EUR million		Change on 2022
1Germany131,738.9-7.2%
2France94,589.5-1.9%
3Italy44,855+5%
4Spain39,203.3+8.1%
5Sweden38,056.4-2.7%
6Netherlands34,812.6+4.2%
7Poland31,311.5+14.4%
8Austria23,566.2-2.8%
9Belgium18,849.7+0.7%
10Denmark16,311+0.9%
11Finland14,102.7+4.8%
12Czechia13,627+12%
13Portugal12,985.1+4%
14Hungary8,314.2+11.1%
15Ireland8,045.8+6.3%
16Romania5,324.4+7.3%
17Slovakia4,988+11.9%
18Greece3,962+24.4%
19Lithuania2,619.6+6.4%
20Bulgaria2,576.7+15.1%
21Estonia2,558.3-5%
22Luxembourg2,409.8-9.3%
23Latvia2,144.2+4.5%
24Croatia1,534.5+12.5%
25Slovenia1,196.6+12.3%
26Malta869.5+17.3%
27Cyprus358+15.7%

Other periods

About this ranking

Net turnover of enterprises in real estate activities (NACE Rev.

More on how it is measured
  • 2 section L): the amounts invoiced during the year for sales of goods and services to third parties, excluding VAT and other deductible taxes, in millions of euros at current prices.
  • Eurostat structural business statistics.

Eurostat structural business statistics. From 2021 the series come from sbs_ovw_act under Regulation (EU) 2019/2152 on European business statistics; 2005 to 2020 come from the earlier table sbs_na_sca_r2. Values for 2021 are flagged as a break: value added moved from factor cost to basic prices and some activities changed coverage, so the change from 2020 to 2021 is not all real. Amounts are published in euros for every country, including those outside the euro area. Not the same as active_companies (INE business register, Spain) or employer_firms (US Census Bureau).

Every value in the ranking comes from the same publisher and the same period, so the EU countries are compared on one definition. Equal values share a rank.

How to cite

Eurostat. Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act). https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table. Retrieved 2026-10-12.

Citation styles

The publisher is the author. Invokely is named only as the place the figures were read, where a style asks for it.

APA 7

Eurostat, European Commission. (2026). Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act) (EU countries by net turnover in real estate activities, 2023) [Data set]. Retrieved October 12, 2026, from https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table

MLA 9

Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act), EU countries by net turnover in real estate activities, 2023. Eurostat, European Commission, 30 Sept. 2026, https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table. Invokely, https://invokely.ai/rankings/turnover-real-estate/eu-countries?period=2023. Accessed 12 Oct. 2026.

Chicago (author-date)

Eurostat, European Commission. 2026. Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act). EU countries by net turnover in real estate activities, 2023. Dataset. Accessed October 12, 2026. https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table. Also distributed by Invokely, https://invokely.ai/rankings/turnover-real-estate/eu-countries?period=2023.

Harvard

Eurostat, European Commission (2026) Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act), EU countries by net turnover in real estate activities, 2023 [Dataset]. Available at: https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table, via Invokely: https://invokely.ai/rankings/turnover-real-estate/eu-countries?period=2023 (Accessed: 12 October 2026).

BibTeX
@misc{eurostat_eu_countries_by_net_2023,
  author = {{Eurostat, European Commission}},
  title = {{Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs\_ovw\_act): EU countries by net turnover in real estate activities, 2023}},
  year = {2026},
  howpublished = {Data set},
  url = {https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/rankings/turnover-real-estate/eu-countries?period=2023. Publisher attribution: Eurostat. Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs\_ovw\_act). https://ec.europa.eu/eurostat/databrowser/view/sbs\_ovw\_act/default/table. Retrieved 2026-10-12.},
}
RIS
TY  - DATA
AU  - Eurostat, European Commission
TI  - Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act): EU countries by net turnover in real estate activities, 2023
PY  - 2026
DA  - 2026/09/30
PB  - Eurostat, European Commission
DB  - Invokely
UR  - https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table
L2  - https://invokely.ai/rankings/turnover-real-estate/eu-countries?period=2023
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/turnover-real-estate/eu-countries?period=2023.
N1  - Publisher attribution: Eurostat. Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act). https://ec.europa.eu/eurostat/databrowser/view/sbs_ovw_act/default/table. Retrieved 2026-10-12.
ER  -
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Questions

Which EU country has the highest net turnover in real estate activities?

Germany, with €131.74 billion in 2023, according to Eurostat, European Commission.

Which EU country has the lowest net turnover in real estate activities?

Cyprus, with €357.99 million in 2023.

Where does this ranking come from?

Every value comes from one source and one period, so the places are comparable: Eurostat, European Commission, Structural business statistics, Real estate activities (NACE Rev. 2 section L), net turnover, EUR million (sbs_ovw_act). Retrieved 2026-10-12.

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