2025 Global Real Estate Outlook: Is property at a turning point?

For use by professional clients and/or equivalent investor types in your jurisdiction (not to be used with or passed on to retail clients). This is a marketing document. This document is intended for informational purposes only and should not be considered representative of any particular investment. This should not be considered an offer or solicitation to buy or sell any securities or other financial instruments, or to provide investment advice or services.

For use by professional clients and/or equivalent investor types in your jurisdiction (not to be used with or passed on to retail clients). This is a marketing document. This document is intended for informational purposes only and should not be considered representative of any particular investment. This should not be considered an offer or solicitation to buy or sell any securities or other financial instruments, or to provide investment advice or services.

The NCREIF Property Index (NPI) is a quarterly, unleveraged composite total return for private commercial real estate properties held for investment purposes only.

Investing involves risk including the risk of loss of principal. Your capital is at risk. Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. The value of investments is not guaranteed, and therefore an investor may not get back the amount invested. International investing involves certain risks and volatility due to potential political, economic or currency fluctuations and different financial and accounting standards. Real estate investing involves risks, including, without limitation: (i) actual operating results; (ii) interest rates; (iii) availability and costs of financing; (iv) economic and market conditions; (v) date of expected exit; (vi) increases in costs of materials or services beyond projections; (vii) force majeure events (e.g., terrorist attacks, extreme weather conditions, earthquakes, war); (viii) supply/demand imbalances; (ix) currency fluctuations; (x) litigation and disputes relating to investments with joint venture partners or third parties; (xi) changes in zoning and other laws; (xii) inability to obtain necessary licenses and permits; (xiii) competition; and (xiv) changes in tax law and tax treatment and disallowance of tax positions.

The value of directly-held property reflects the opinion of valuers and is reviewed periodically. These assets can also be illiquid and significant or persistent redemptions may requite the manager to sell properties at a lower market value adversely affecting the value of your investment.

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Along with Columbia Threadneedle’s in-house Research and Lionstone Research, a variety of sources have been used in the production of this document including, but not exclusively, Oxford Economics, Property Market Analysis, MSCI (www.msci.com/notice-and-disclaimer), Moody’s, CoStar, Federal Reserve Bank of St. Louis.

In relation to data and information sourced from or provided by Property Market Analysis LLP, nothing herein expressed or implied is intended or shall be construed to confer upon or give to any person any rights or remedies under or by reason of this document. No third party is entitled to rely on any of the statements and/or information contained in this document, and no entity referred to herein assumes any liability to any third party because of any reliance on the statements and/or information contained in this document.
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