Capital value analysis and forecast
Following headwinds in 2025, the global market enters 2026 on an uncertain footing
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Following headwinds in 2025, the global market enters 2026 on an uncertain footing
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Stronger economies are supporting property income, but renewed rate pressure is keeping the recovery selective, prime-led and regionally uneven.
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Stability persists amid elevated borrowing costs and economic uncertainty

Rental growth and yields
Stability persists amid elevated borrowing costs and economic uncertainty
Prime office yields stable at 4.9%, underpinned by competitive debt and resilient occupational markets.

Spotlight: European Office Investment – Q2 2026
Prime office yields stable at 4.9%, underpinned by competitive debt and resilient occupational markets.
Prime residential prices remained resilient in the first half of 2025, recording positive price growth of 0.7%
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Prime residential capital value growth and forecasts
Prime residential prices remained resilient in the first half of 2025, recording positive price growth of 0.7%
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"San Diego office market leasing activity rebounds"
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"Tenant demand for quality defines Tampa Bay office market"
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"The following analysis examines leasing activity across Tier 1 office markets through midyear 2026 and explores the market dynamics likely to shape demand during the second half of the year."
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"Overall vacancy rose to 26.4%, an increase of 610 basis points year over year, driven in part by the addition of 2.5 million square feet of new life sciences space."
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"Overall vacancy declined 160 basis points (bps) year over year to 37.6% from 39.2%, signaling a slight positive shift in the market."
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"Overall vacancy declined 320 basis points (bps) year over year to 23.8% from 27.0% in Q2 2025, while direct vacancy, sublease vacancy and total available space also decreased over the same period."
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"Overall vacancy increased by 70 basis points (bps) year over year to 32.5% from 31.8% in Q2 2025, reflecting continued elevated availability in the market."
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"Overall vacancy increased to 24.4%, up 890 basis points year over year from 15.5%, primarily due to the addition of several large availabilities to the market. Sublease vacancy also rose sharply, increasing from 1.6% in Q2 2025 to 3.0% in Q2 2026."
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"Overall vacancy increased by 260 basis points year over year to 7.3% from 4.7%. However, Philadelphia continues to post one of the lowest vacancy rates among the nation's leading life sciences markets."
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"Overall vacancy decreased by 160 basis points (bps) year over year to 23.1% from 24.7% in Q2 2025. Total available space also declined by 1.3 million square feet (msf) to 3.3 msf, reflecting continued market absorption."