RICS Monitor: Why 2026 Is a Market of Specific Opportunities

February 16, 2026

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CPE’s Laura Valean and RICS’ Tarrant Parsons discuss diverging global trends and what investors should watch in a still-fragmented recovery.

Commercial real estate sentiment is improving globally, but the recovery is far from uniform, according to the results of the latest surveys released by the Royal Institution of Chartered Surveyors in London. The Americas, led by the U.S., are seeing clearer signs of momentum, while parts of Europe remain cautious and Asia Pacific presents a mixed picture.

“Markets aren’t moving together,” said RICS Head of Market Analytics Tarrant Parsons in this podcast. “Different regions are at different points in the cycle.”

Hosted by CPE Senior Editor Laura Valean, this RICS Monitor episode explores the widening gap between prime and secondary assets, the persistence of the “flight to quality” trend, and why older office buildings may never return to pre-2019 valuations. Parsons also weighs in on the so-called maturity wall in the U.S., tightening lending conditions in Europe, and the risks of capital crowding into alternatives like data centers and student housing.

One of the most striking data points? The share of respondents viewing real estate as “expensive” has fallen to its lowest level in a decade, suggesting a recalibration across many markets.

Still, geopolitical risks, policy shifts and sector-specific headwinds remain very real, so focusing on specific cities and property types where fundamentals genuinely support growth will be key going forward as broad regional bets may no longer work.

Here are the main topics covered in this conversation: