RICS Monitor: North America Leads Uneven CRE Recovery

August 24, 2026

Podcasts Featured International National

Tarrant Parsons joins CPE’s Laura Valean to break down the latest CRE survey results, from the U.S. office rebound to global credit and geopolitical risks.

Global commercial real estate sentiment improved in the second quarter, but the recovery story remains far from straightforward. While some markets are showing clearer signs of momentum, others are still grappling with tighter credit conditions, geopolitical uncertainty and sharp differences between prime and secondary assets.

In this episode of RICS Monitor, CPE’s quarterly podcast series tracking global real estate sentiment, Executive Editor Laura Valean speaks with Tarrant Parsons, head of market analytics at the Royal Institution of Chartered Surveyors in London, about the latest RICS surveys and what they reveal about the state of the CRE market.

North America stands out, with both the U.S. and Canada posting stronger results. One of the more surprising bright spots is the U.S. office market, where demand has improved from post-pandemic lows. But that rebound is not necessarily being felt equally across all buildings, and the divide between high-quality assets and weaker stock may be more than a cyclical trend.

The conversation also explores Europe’s mixed signals, where expectations are improving even as credit conditions remain under pressure, as well as the sharp reversal in the UAE and the more resilient pockets emerging elsewhere in the Middle East and Africa.

So is commercial real estate finally moving toward a more durable recovery or are inflation, interest rates and geopolitical risks still holding the market back? Tune in for Parsons’ take on what the latest data really says.

Here are the main topics covered in this conversation: