We address the attractiveness of 66 countries worldwide for institutional real estate investments by the construction of a composite index. For the index_ composition we refer to the results of prior research papers that investigate the parameters determining real estate investment activity on an aggregated level. We conceptualise a composite index and receive a global country ranking that correlates reasonably with investment activity running a back-test over six years. We increase the transparency of market variables for decision-making in global asset allocation and provide the key determinants that shape national real estate markets. The results highlight the strengths and weaknesses of developed, transition and emerging economies and provide guidelines for political improvements and for institutional investors_ country allocations. We finally compare the attractiveness of the United Kingdom, Germany and Italy for real estate investing.