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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"The construction pipeline is slowing, falling below 10.0 million square feet (msf) for the first time since mid-2022."
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"Vacancy increased by 190 basis points (bps) over the last year, from 9.2% to 11.1%"
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"Vacancy has continued trending downward, declining 160 basis points (bps) year over year."
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"Vacancy held at 9.2% in Q1 2026 as net absorption totaled 0.6 million square feet (msf)"
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"The East Bay/Oakland industrial vacancy rate has continued to climb to 8.8%"
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"Nashville’s vacancy rate rose 50 basis points year over year to a high of 7.0%"
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"Deliveries totaled 0.2 million square feet (msf) in Q1 2026, while construction declined to 1.8 msf"
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"The overall availability rate has declined for the third consecutive quarter following nine straight quarters of increases, falling 110 basis points (bps) year over year."
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"Broward’s next competitive wave is being driven by repositioned assets rather than ground-up construction, as new development remains limited."
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"The overall availability rate continues to rise, increasing 280 basis points (bps) year over year amid persistently muted leasing activity."