RICS Monitor: Global CRE Markets Move at Different Speeds

November 13, 2025

2026 will test which markets and sectors can best weather ongoing uncertainty, says Tarrant Parsons in this podcast with CPE’s Laura Valean.

A year of mixed sentiment across global commercial real estate, with sharp contrasts between regions—this is the main takeaway from the latest Global Commercial Property Monitor released by the Royal Institution of Chartered Surveyors in London. While investor confidence is firming in markets such as the U.S., India and the UAE, markets such as China, France and Germany face sluggish demand and subdued outlooks.

“Uncertainty around trade, interest rates, geopolitics continue to cloud the outlook as they have done most of the year,” said Head of Market Analytics Tarrant Parsons, in the final podcast episode of RICS Monitor in 2025.

Across all regions, the office sector remains polarized, while alternative assets—especially data centers, student housing assets and care facilities—stand out as consistent outperformers.

In the APAC region, optimism in India and Japan contrasts with continued weakness in China, while in Europe, southwestern markets like Spain and Portugal remain resilient against northern caution. Meanwhile, North America shows cautious optimism as the U.S. and Canada move toward recovery, and the UAE maintains strong growth despite Saudi Arabia’s slowdown.

“2026 is shaping up to be a year of more selective opportunities rather than seeing a completely broad-based or widespread recovery,” said Parsons.

Here’s what else he touched on in this podcast with Commercial Property Executive Senior Editor Laura Valean: