APAC Commercial Property Chart Pack

APAC Commercial Property Chart Pack (Q1 2026)

Asia-Pacific all-property capital value declines eased further in Q4 to minus 0.8% y/y, reinforcing signs that the market is bottoming out. Looking ahead, however, elevated risk-free rates and muted...

26th February 2026 · 1 min read

Europe Commercial Property Chart Pack

Europe Commercial Property Chart Pack (Q1 2026)

Slightly lower prime property yields supported property values across most markets in 2025. However, we expect property yields to hold broadly steady this year and capital value growth to slow.

24th February 2026 · 0 mins read

US Housing Market Outlook

Trump's affordability push to have limited success

President Trump’s proposals to improve housing affordability are not enough to move the dial, which would require a sustained decline in mortgage rates. Unfortunately, our positive outlook for the...

14th January 2026 · 11 mins read

Europe Commercial Property Outlook

Commercial property recovery losing steam

The recovery in European commercial property values is slowing and we think this will continue as soft economic growth weighs on rents and elevated interest rates limit yield-driven capital gains...

11th December 2025 · 23 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

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

Europe Commercial Property Chart Pack

Europe Commercial Property Chart Pack (Q4 2025)

Softening rental growth and steady yields weighed on capital value growth in many markets in Q3. And this is likely to continue, with our Capital Value Lead Indicator pointing to a further slowdown in...

24th November 2025 · 0 mins read

US Commercial Property Chart Pack

US Commercial Property Chart Pack Q4 2025

All-property capital values were flat in Q3 and our CE Capital Value Lead Indicator suggests more of the same in Q4 and into early 2026. Lagging appraisal adjustments and still-high financing costs...

20th November 2025 · 0 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 Housing Market Outlook

Boost from lower mortgage rates to be short-lived

While slightly lower borrowing costs have boosted the near-term outlook, the decline has not been large enough to meaningfully improve housing affordability. In addition, we believe that market...

20th October 2025 · 11 mins read

APAC Commercial Property Update

China's office market weakness to persist through 2027

Mainland China’s office market has been in a prolonged downturn since 2018 as structural headwinds, including weak economic growth, cautious corporate hiring, and rampant new supply have kept vacancy...

8th October 2025 · 4 mins read

Europe Commercial Property Outlook

Weak recovery despite lower interest rates

The extension of the ECB easing cycle into 2026 will support real estate markets. However, a softer economic outlook and the narrow spread of property to government bond yields mean even our upwardly...

29th September 2025 · 26 mins read

APAC Commercial Property Outlook

Buyer-seller mismatch will keep investment slow

Asia-Pacific property will endure a slow , uneven recovery. E levated risk-free rates and soft regional growth will restrain capital appreciation, leaving income as the primary engine of returns. We...

18th September 2025 · 19 mins read

US Commercial Property Chart Pack

US Commercial Property Chart Pack (Q3 2025)

All-property capital values rose modestly by 0.1% in Q2, suggesting a market floor, with cap rates falling by 5 bps. However, we expect values to see limited upside due to the narrow spread to risk...

22nd August 2025 · 1 min read

Europe Commercial Property Chart Pack

Europe Commercial Property Chart Pack (Q3 2025)

Tariff uncertainty weighed on investment and industrial property in particular in Q2. However, we don’t expect much recovery in H2 as long-term interest rates rise and economic growth softens. Indeed...

20th August 2025 · 0 mins read