A new report by CBRE on the growth in European property investments has identified Spain and Ireland as the “standout performers” with both possibly on course for record annual investment totals.

The report said both countries were benefitting from growing interest in real estate from returns-driven investors.

The €3.5 billion total in Spain was the second-highest ever and a 173 per cent increase on the same quarter last year. Ireland’s €1.6 billion was the country’s highest ever quarterly total and a 240 per cent increase on last year’s third quarter. Other “recovery” markets were also benefitting for the same reason but not to the same effect. Portugal, Italy and the Netherlands all saw strong growth.

The study also said that Ireland had seen a surge in its growth positioning in 2014 and moving into 2015, putting it at the top of the GDP growth table.

At the other end Finland was in the doldrums.