Global Commercial Property Chartpack (Q2 2025)

The gradual recovery in property values underway in Europe is unlikely to be pushed off track by tariff developments this year, but we think values still have further to fall in the US and APAC as they adjust to the higher interest rate environment.

Further ahead, we think US performance will improve, with returns likely to match the UK and outpace the euro-zone and APAC over the 2026-29 period.

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