Why are healthcare yields in France and the Netherlands generally lower than in Spain?

The reason yields in the healthcare sectors of France and the Netherlands are generally lower than in Spain is primarily attributed to the stability and transparency of their markets. In these countries, the healthcare real estate market operates within well-defined regulatory frameworks, leading to a higher degree of investor confidence. This stability attracts more institutional capital, driving prices up and yields down.

Additionally, the transparent nature of the markets in France and the Netherlands allows for more reliable valuations and forecasts, contributing to a lower risk perception among investors. As a result, it becomes less likely for yields to reflect higher returns compared to markets like Spain, where healthcare yields may be influenced by more variable factors such as economic volatility and less predictable market conditions.

While the other options hint at factors that impact healthcare markets, they do not directly contribute to the relative differences in yields as effectively as stability and transparency in the market do. Higher operational costs and better technology investments might influence the overall performance and cost structures but do not explain the yield discrepancies as clearly. Increased demand for healthcare services could apply to both regions; however, if the market conditions are stable and transparent, the investment dynamics shift toward lower yields in those environments.