This article compares different ways to invest in real estate in Europe: real estate funds and listed real estate companies. It also discusses the emergence of Real Estate Investment Trusts (REITs) in Europe and how they affect the real estate industry. Investors can choose between these options based on their risk and return preferences. Some real estate companies in Europe have changed their structure to become REITs, following the model from the USA. This shift impacts how investors can access the real estate market and the potential risks and rewards they may encounter.