Global commercial real estate investment trends

Global commercial real estate investment has experienced a resurgence, characterized by significant growth in the Asia-Pacific region and specific sectors in the United States.

In the first half of 2026, transaction volumes in the Asia-Pacific rose 38 per cent to US$92.5 billion. Mainland China emerged as the fastest-growing market in the region with a 103 per cent increase in transaction volumes, though analysts suggest this recovery may be fragile as activity was largely driven by domestic owner-occupiers and disposals.

In the United States, Northern Virginia saw a 259 per cent increase in sales, reaching US$11.5 billion, primarily fueled by digital infrastructure and data center acquisitions.

Investor interest is also shifting toward the office sector, with transaction preference rising to 11 per cent in the second quarter of 2026. This trend is attributed to clearer valuations and optimism regarding office conversions. While the multifamily sector remains the top-ranked asset class, investor optimism for it has declined due to oversupply issues in the Sun Belt. To track these shifts, the National Association of Realtors has launched a quarterly Commercial Real Estate Demand Index to monitor economic drivers across 306 U.S. metro areas.