UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Dec. 25) Rental growth has ended the year on a strong note, but with yields stable total returns are beginning to ease from their recent level of around 8% y/y. And with yields set to see little movement over... 17th December 2025 · 1 min read
Global Commercial Property Chart Pack Global Commercial Property Chartpack (Q4 2025) Global property returns have improved in 2025, though performance in APAC and the US has lagged Europe. This divergence is set to continue in 2026. However, we expect performance in the US will... 17th December 2025 · 0 mins read
APAC Commercial Property Update Rental growth will help Japan defy the squeezed yield spread Rising interest rates in Japan have raised concerns about whether this will slow investment activity and exert downward pressure on capital values. Our view is that while the risk-free rate will... 16th December 2025 · 3 mins read
UK Commercial Property Update IPF UK Commercial Property Consensus Forecasts (Dec. 25) The December IPF consensus survey forecasted all-property total returns of 7.8% p.a. over 2025-29, more-or-less unchanged from September. Indeed, the total return forecast has been stable for all of... 12th December 2025 · 3 mins read
UK Commercial Property Update What does the Budget mean for UK commercial property? With our 10-year gilt yield forecast unchanged and the impact of changes to business rates broadly revenue neutral over the next five year years, we are not changing are commercial property forecasts... 11th December 2025 · 4 mins read
US Commercial Property Update Q4 PREA consensus trimmed forecasts again, but not enough The Q4 PREA consensus downgraded the all-property forecast for 2026-29. Even so, the consensus is still notably more optimistic than us. Indeed, stretched valuations mean we expect a modest rise in... 9th December 2025 · 3 mins read
UK Commercial Property Update New office forecasts for seven regional UK cities We have augmented our UK Commercial Property coverage with the addition of office forecasts for seven major regional cities. Overall performance is informed by our views on the RoUK market, but... 9th December 2025 · 6 mins read
Global Commercial Property Update Key themes for global commercial real estate in 2026 As the new year approaches, we are highlighting the key themes that we think will set the overarching narrative for global commercial real estate in 2026. 5th December 2025 · 4 mins read
US Commercial Property Outlook Retail shines in a disappointing recovery Below-trend economic growth and high interest rates will continue to weigh on all-property total returns, which we think will average just 5.5% p.a. over 2026-30. Of the major sectors, we think retail... 4th December 2025 · 21 mins read
Europe Commercial Property Update European residential outperformance to persist over 2026-30 Residential rent growth is set to slow over the next couple of years as wage growth moderates, but we expect it to remain above past averages given tight supply conditions. Meanwhile, we think yields... 2nd December 2025 · 4 mins read
APAC Commercial Property Outlook Narrow yield spreads to limit size and speed of the recovery Asia-Pacific property faces a slow, uneven recovery as high risk-free rates and weak growth limit investment demand and therefore, prospects for yield-driven capital gains. Spreads over risk-free... 2nd December 2025 · 18 mins read
UK Commercial Property Outlook UK Commercial Property Outlook: Higher gilt yields and taxes to weigh on recovery With the 10-year gilt yield now set to be higher for longer and the Budget likely to raise taxes on households, the outlook for commercial property has become a bit gloomier. We now expect total... 25th November 2025 · 26 mins read
APAC Commercial Property Chart Pack APAC Commercial Property Chart Pack (Q4 2025) Asia-Pacific all-property capital value declines slowed further with Q3 down just 1.1% y/y. Yet we expect the recovery to be modest, constrained by high risk-free rates and limited rental growth... 18th November 2025 · 1 min read
US Commercial Property Update Senior housing returns to exceed 10% p.a. over 2026-30 Solid demand and a lack of new supply mean we expect senior housing vacancy rates to reach record lows in 2027 and stay at low levels in the following years, helping rent gains averages 4.5% p.a. over... 13th November 2025 · 3 mins read
APAC Commercial Property Valuation Monitor APAC Commercial Property Valuation Monitor (Q4 2025) Asia-Pacific valuation scores were unchanged in Q3, as property and bond yields saw little movement. While most markets are now fairly valued according to our scores, we expect high risk-free rates to... 7th November 2025 · 1 min read
US Commercial Property Update NCREIF Q3 2025: Same old, same old Capital values were broadly flat in Q3 and total returns reached 1.2% q/q, unchanged from Q2. While the main sector ranking is consistent with our views – retail and residential leading, office and... 27th October 2025 · 3 mins read
