Language
DEEN
Market analysis··3 min read

Conversion of European Buildings Requires Modernisation of Existing Stock

A comprehensive analysis of lift data in 18 European cities confirms a structural change in building use, highlighting the adaptation of existing stock over new construction.

AI generatedConversion of European Buildings Requires Modernisation of Existing Stock – AI-generated illustrative image
Conversion of European Buildings Requires Modernisation of Existing Stock. Illustrative image generated using artificial intelligence (AI). The image does not depict a real property, person or event and is not a documentary photograph. Labelled in accordance with Article 50(4) of the EU AI Act.

A detailed study of almost two billion lift journeys in 18 European cities confirms a significant structural change in the use of residential and office buildings. This development shifts the focus for owners, managers, and operators from new property construction to the modernisation of their existing portfolios. The analysis, based on a broad dataset from KONE, reveals new requirements for the infrastructure and operation of properties in urban centres.

The collected data shows that residential buildings are increasingly serving as workplaces. In Brussels, for example, lift usage in residential buildings at lunchtime exceeds peak commuter flows. 40 per cent of weekday journeys there occur between 10 AM and 4 PM, underscoring the changing function of private living spaces as working environments. Simultaneously, office buildings are experiencing an extension of usage times beyond the regular working day. In London, 17 per cent of lift journeys in offices take place outside usual business hours, representing the highest value in Europe and indicating prolonged building activity.

Furthermore, a significant fluctuation in utilisation throughout the year is noticeable. Milan records a decrease in lift usage to only 47 per cent of a normal month in August, raising questions about the efficiency of operating partially empty buildings in terms of maintenance, heating, and cooling. Given the forecast that up to 95 per cent of today's building stock will still be in use by 2050, the industry's focus is on adaptation rather than primarily new construction.

Usage Profiles in German Metropolises

The observed change is occurring in Germany with varying intensity and specific consequences for building operations. Three major German cities represented in the dataset illustrate this diversity. Frankfurt am Main shows exceptionally consistent utilisation throughout the year, with the lowest seasonal fluctuations of all analysed cities. The difference between the busiest and quietest month is less than half the European average. This allows for reliable baseline planning for owners and managers, particularly with regard to maintenance intervals, energy consumption, and personnel resources.

In Hamburg, building infrastructure is being used well beyond traditional office hours. Lift usage on Saturday evening surpasses the city's average nocturnal activity level by 21 per cent and is even higher than Friday's level, which usually marks the peak across Europe. This suggests a combined residential and leisure usage at weekends, going beyond a purely weekday design of facilities. Munich serves as a reference case, as the city most precisely mirrors the European average. It thus represents a typical rhythm of activity for the continent and serves as an important benchmark for portfolio holders with pan-European portfolios to classify demands and modernisation needs.

Implications for Building Operations

The analysis clearly shows that buildings originally designed for other uses are now subject to new requirements. The need for adapting existing stock is undeniable to ensure safety, comfort, and economic viability in the future. Ms Karla Lindahl, EVP for Europe at KONE, emphasised that the data highlights the diverse uses of buildings in European cities, which rely on existing infrastructure, much of which will still be in operation in 2050. Adapting to changing habits is crucial here. Technological advancements enable efficient modernisation; selected modernisation packages for lifts, for example, can be installed within a week, thereby minimising downtime for tenants and owners. This supports maintaining the rhythm of activity in urban environments and contributes to ensuring that cities continue to function in the future.

Looking for
a real estate
agent?

Michael Freitag — founder of FREITAG® Immobilien
Michael Freitag
Founder of FREITAG® Immobilien GmbH
More than 15 years of experience in Bavaria & surroundings
— FREITAG Immobilien

Your discreet partner for institutional transactions in German-speaking Europe.

As a premium real estate firm based in Munich we advise investors, family offices, developers and long-term holders on the acquisition, sale and valuation of residential, income and commercial properties — confidential, close to the market and on equal terms.

3.600+
municipalities on our market radar
48 h
first assessment of your property
Off-market
discreet circle of buyers
DACH
DE · AT · CH
— Confidential contact

Let us talk about your portfolio.

Acquisition profiles, off-market opportunities, valuations or development enquiries — we reply personally within 24 hours, NDA as a matter of course.

Phone
+49 (0) 89 158 90 140
Email
E-Mail anzeigen
Office
Munich
— More news
— Most read in the journal