The U.S. commercial real estate market in 2026 is entering a period of gradual recovery following several challenging years. Higher interest rates, tighter lending standards, changing patterns of office use, rising construction costs and uncertainty over property valuations have affected the market since 2022. However, conditions have started to improve as transaction activity increases, financing markets...
For the Italian commercial property market in 2026, inflation and energy-price fluctuations are important factors behind the more moderate investment outlook. At the beginning of the year, inflation appeared relatively contained, but the sharp increase in energy prices from March onwards created renewed upward pressure. The European Commission's May 2026 forecast projected Italian inflation at 3.2% for the...
France’s commercial property market in 2026 sits at a turning point, emerging from the correction phase that followed the sharp interest rate rises of 2022–2023 and the subdued activity of 2024. The market is now in an early recovery stage, but this recovery is gradual, uneven, and highly dependent on asset quality. Rather than a broad-based rebound, conditions are best described as a “selective...
A moderate outlook for the European commercial real estate market in 2026 reflects a period of stabilisation following several years of disruption, rather than a sharp rebound or continued decline. The macroeconomic backdrop is broadly steady but subdued, with economic growth across Europe remaining modest and interest rates settling at structurally higher levels than in the pre-2022 era. While the...
Germany’s commercial property market in 2026 sits at an inflection point defined less by cyclical recovery and more by structural adjustment. Following the sharp correction triggered by the rapid rise in interest rates between 2022 and 2024, the market has largely completed its repricing phase. By late 2025, transaction activity began to recover from historic lows, and this momentum has carried...
The outlook for the UK commercial property market in 2026 is widely regarded as having a range of cyclical and structural pressures combining to create a cautious environment. Although headline indicators such as stabilising yields and modest rental growth suggest that the sharp correction of the early 2020s has passed, the underlying fundamentals remain sluggish. Subdued economic growth, persistent...