Skip to main content

NCREIF Property Index (Q3 2022)

As expected, NCREIF all-property total returns dropped back significantly in Q3, to just 0.6% q/q,  as investor demand pared back in response to higher alternative asset yields and the poor outlook for economic growth. Looking ahead, while capital values nudged 0.4% lower on the quarter, driven by office and retail, we expect larger falls in Q4. What’s more, we anticipate capital value declines in all four major sectors in at least the next couple of quarters.

Real Estate Drop-In (1st November): What will a US recession mean for real estate returns? Join our 20-minute online briefing to find out how the changing macroeconomic environment will affect US market performance in 2023 and beyond. Register here.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access