Overseas investment accounted for three-quarters (74%) of transaction volume, which stood at four-and-a-half times the historic five-year average, with North American investors particularly active.

Julian Evans, global head of healthcare at Knight Frank, said: ‘2025 was a landmark year for healthcare real estate investment, driven by a combination of demographic fundamentals, strong operator performance and growing institutional interest in the sector.'

Investor demand remained concentrated in elderly care assets, which accounted for 80% of total transaction volume, compared with a five-year average of 77%. Primary care represented a further 16% of activity, reflecting continued investor conviction in sectors supported by long-term demographic trends and resilient income characteristics.

Evans added: ‘We expect healthcare to remain firmly on investors' radars throughout 2026, supported by long-term demand drivers, attractive income characteristics and continued interest from both domestic and international capital.'