Near-term laggard but US to outperform longer term

The slower adjustment to past rises in interest rates and sharper hit to office demand mean US property is set to underperform European property over the next five years. But unlike equities, we think US economic outperformance will translate into stronger returns for US property over the longer term.

We will also be discussing the outlook for global commercial real estate markets in a 20-minute online briefing at 3pm BST on Wednesday 10th of July. (Register here.)

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