Global real estate stabilizes with seven consecutive quarters of positive returns as transaction activity strengthens
- Global private real estate values have increased for five consecutive quarters through Q4 2025, with total returns positive across 20 out of 21 countries in the MSCI index, supported by stable income returns
- Transaction volumes reached $945 billion over the trailing year across the U.S., Europe and Asia Pacific, a 17% increase year-over-year, as pricing stabilizes below 2019 levels and institutional investors remain under-allocated to real estate globally
- Real estate debt markets present compelling opportunities as capital values recover and elevated margins provide attractive risk-adjusted returns
