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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"Healthcare real estate capital markets activity has continued to build in recent years, with hospitals and medical office buildings accounting for a significant share of transactions."
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"As the sector scales, AI companies are taking more space and committing for longer, while availability tightens in key submarkets and lease economics move closer to the broader market."
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"U.S. manufacturing snaps back, with jobs and capital investment surging past a spring plateau."
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"While data centers remain a distinct real estate asset class, their expansion increasingly intersects with the industrial sector through competition for land, power, construction materials and labor."
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"The U.S. life sciences sector is navigating a period of recalibration, as vacancy remains nearhistorical highs and a sharp pullback in development contrast with resilient industry fundamentals."
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"Q2 2026 marked an extraordinary quarter for law firm leasing, as transaction volume surged beyond pre-pandemic highs."
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"The vacancy rate held steady at 16.1% for the second consecutive quarter, marking the first pause in vacancy growth since 2023. However, the market remains tenant-favorable."
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"Construction activity is picking back up, with about 1.3 million square feet (msf) underway, up from 0.8 msf in Q1 2026 and the highest total in four quarters."
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"Vacancy continued to decline through the first half of 2026, ending Q2 at 6.6%, a 260 bps decline year over year, as strong big-box demand and net absorption drove the market's recovery."