This research study investigates the effects of the process of European monetary integration on the investment performance of European commercial real estate markets. In particular, it addresses the question of whether European monetary integration has produced convergence in the performance of European office markets. Different dimensions of convergence are analysed in terms of whether there is growing similarity in terms of causation of market change, market timing and market levels. The study uses data from both the non-securitised and securitised real estate sectors.