Colliers’ 2025 Global Investor Outlook reveals renewed investor optimism in commercial real estate as pricing stabilizes
Colliers' 2025 Global Investor Outlook indicates renewed optimism in commercial real estate markets as asset values stabilize. The report predicts a more diverse market environment emerging across asset classes and investor bases, driven by subsiding inflation, lower interest rates, and improved economic outlook. Private investors, especially family offices and private equity funds, are expected to be among the most active buyers in 2025.
The report highlights strong interest across all sectors, with prime urban office assets attracting renewed attention and industrial/logistics remaining a major investment theme. Data centers are particularly sought after due to AI growth, though energy constraints pose challenges. Regional trends show rate cuts driving APAC transactions, growing demand for quality assets in EMEA, and declining rates boosting U.S. investments.
Il Global Investor Outlook 2025 di Colliers indica un rinnovato ottimismo nei mercati immobiliari commerciali poiché i valori degli asset si stabilizzano. Il rapporto prevede l'emergere di un ambiente di mercato più diversificato attraverso le classi di asset e le basi di investitori, grazie all'inflazione in calo, ai tassi di interesse più bassi e a un miglioramento delle prospettive economiche. I investitori privati, in particolare gli uffici familiari e i fondi di private equity, sono previsti tra i compratori più attivi nel 2025.
Il rapporto mette in evidenza un forte interesse in tutti i settori, con gli asset per uffici urbani di alta qualità che attraggono nuovamente attenzione e l'industriale/logistica che rimane un tema di investimento principale. I centri dati sono particolarmente ricercati a causa della crescita dell'IA, sebbene le limitazioni energetiche presentino delle sfide. Le tendenze regionali mostrano che i tagli ai tassi spingono le transazioni nell'APAC, cresce la domanda di asset di qualità nell'EMEA e la diminuzione dei tassi stimola gli investimenti negli Stati Uniti.
El Global Investor Outlook 2025 de Colliers indica un renovado optimismo en los mercados inmobiliarios comerciales a medida que los valores de los activos se estabilizan. El informe predice la aparición de un entorno de mercado más diverso a través de las clases de activos y las bases de inversionistas, impulsado por la disminución de la inflación, tasas de interés más bajas y una mejor perspectiva económica. Se espera que los inversores privados, especialmente las oficinas familiares y los fondos de capital privado, se encuentren entre los compradores más activos en 2025.
El informe destaca un fuerte interés en todos los sectores, con los activos de oficinas urbanas prime atrayendo una vez más la atención y el sector industrial/logístico permaneciendo como un tema de inversión importante. Los centros de datos son particularmente deseados debido al crecimiento de la IA, aunque las limitaciones energéticas presentan desafíos. Las tendencias regionales muestran que la reducción de tasas impulsa las transacciones en APAC, hay una creciente demanda de activos de calidad en EMEA y la disminución de tasas estimula las inversiones en Estados Unidos.
콜리어스의 2025 글로벌 투자 전망은 상업용 부동산 시장에서 자산 가치가 안정화됨에 따라 새로운 낙관론이 고조되고 있다고 지적합니다. 이 보고서는 인플레이션이 완화되고 금리가 낮아지며 경제 전망이 개선됨에 따라 다양한 자산 클래스와 투자자 기반에서 더 다양화된 시장 환경이 나타날 것으로 예측합니다. 민간 투자자, 특히 패밀리 오피스와 사모펀드가 2025년 가장 활발한 구매자가 될 것으로 기대됩니다.
이 보고서는 모든 부문에서 강한 관심을 강조하고 있으며, 프라임 도시 사무실 자산이 새로운 주목을 받고 있고 산업/물류가 주요 투자 주제로 남아 있습니다. 데이터 센터는 AI 성장으로 인해 특히 많이 요구되지만, 에너지 제약이 도전 과제가 됩니다. 지역적 추세는 금리 인하가 APAC 거래를 촉진하고, EMEA에서 품질 자산에 대한 수요가 증가하며, 금리 하락이 미국 투자를 증대시키는 것을 보여줍니다.
Les Perspectives Globales des Investisseurs 2025 de Colliers indiquent un optimisme renouvelé sur les marchés immobiliers commerciaux alors que les valeurs des actifs se stabilisent. Le rapport prédit l'émergence d'un environnement de marché plus diversifié à travers les classes d'actifs et les bases d'investisseurs, soutenu par la baisse de l'inflation, des taux d'intérêt plus bas et une amélioration des perspectives économiques. Les investisseurs privés, en particulier les bureaux familiaux et les fonds de capital-investissement, devraient être parmi les acheteurs les plus actifs en 2025.
Le rapport souligne un intérêt fort dans tous les secteurs, avec des actifs de bureaux urbains de première qualité attirant une attention renouvelée et l'industrie/la logistique restant un thème d'investissement majeur. Les centres de données sont particulièrement recherchés en raison de la croissance de l'IA, bien que les contraintes énergétiques posent des défis. Les tendances régionales montrent que les baisses de taux stimulent les transactions en APAC, la demande d'actifs de qualité augmente en EMEA et la baisse des taux stimule les investissements aux États-Unis.
Colliers' Global Investor Outlook 2025 zeigt einen erneuten Optimismus auf den kommerziellen Immobilienmärkten, da sich die Vermögenswerte stabilisieren. Der Bericht prognostiziert, dass sich ein vielfältigeres Marktumfeld über die Anlageklassen und Investorenbasen hinweg entwickeln wird, angetrieben von nachlassender Inflation, niedrigeren Zinsen und einer verbesserten wirtschaftlichen Aussicht. Private Investoren, insbesondere Family Offices und Private Equity Fonds, werden voraussichtlich zu den aktivsten Käufern im Jahr 2025 gehören.
Der Bericht hebt starkes Interesse in allen Sektoren hervor, wobei erstklassige urbane Büroimmobilien erneut Aufmerksamkeit auf sich ziehen und Industrie/Logistik ein zentrales Investment-Thema bleibt. Datenzentren sind aufgrund des Wachstums von KI besonders gefragt, obwohl Energieengpässe Herausforderungen darstellen. Regionale Trends zeigen, dass Zinssenkungen Transaktionen in APAC antreiben, die Nachfrage nach Qualitätsassets in EMEA wächst und sinkende Zinsen die Investitionen in den USA ankurbeln.
- Asset values are stabilizing across commercial real estate markets
- Strong fundraising indicates increased future deal volumes
- Growing interest in prime urban office assets for redevelopment
- Continued strong demand for industrial and logistics assets
- Expanding private wealth investments entering the real estate market
- Potential resurgence in inflation could affect rate cut expectations
- Low inventory levels and new supply constraining market growth
- Regulatory complications affecting market liquidity
- Energy supply constraints limiting data center development
- Lingering geopolitical tensions affecting investment decisions
Insights
The 2025 outlook reveals a significant shift in commercial real estate market dynamics. Key positive indicators include:
- Stabilizing asset values and renewed investor confidence
- Expected lower interest rates and subsiding inflation
- Increased private wealth participation, particularly from family offices
- Strong fundraising activities, especially in core capital
The market is experiencing a notable transformation in investment patterns, with a shift from credit to equity-focused strategies. The emergence of private wealth as a major player could fundamentally alter traditional investment dynamics. The sector-specific opportunities in prime urban offices, industrial & logistics and alternatives like data centers indicate a maturing market ready for strategic positioning.
The market transition presents compelling investment opportunities across multiple sectors. The shift from credit-backed to equity-focused strategies signals improved market liquidity and risk appetite. The increased participation of family offices brings advantages of:
- More flexible capital deployment
- Faster decision-making processes
- Long-term investment horizons
The focus on value-add and opportunistic properties in well-located areas suggests potential for above-average returns through strategic repositioning. For Colliers (CIGI), this market evolution could drive increased transaction volumes and advisory services revenue, particularly in their capital markets segment.
Broad momentum across asset classes, private wealth to reshape capital flows
LONDON and TORONTO, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Leading global diversified professional services company Colliers released its 2025 Global Investor Outlook, revealing renewed investor optimism and confidence that the commercial property market has moved past an inflection point following two years of muted transactions. On the back of subsiding inflation, lower interest rates, an improved economic outlook and expansive fundraising, Colliers anticipates a new market environment to emerge, more diverse – by asset class and investor base – than the one it replaced.
Some uncertainties remain, including a potential resurgence in inflation that changes the direction or tempo of rate cuts, a lack of inventory and low levels of new supply, and regulations that can complicate market liquidity on a more nuanced basis. While recent elections in major economies such as the UK and U.S. have provided more clarity around policies, lingering geopolitical tensions require a prudent approach to 2025 investments.
“We are seeing signs of positive momentum, with stronger sentiment growing as asset values stabilize. Stronger fundraising, including a return of core capital, will take time to flow through into deal volumes, though it is a strong indicator that more activity will hit the market soon,” said Luke Dawson, Head of Global Capital Markets for Colliers. “In conversations with investors around the world, now is the time to be laying the groundwork for the next few years of growth as the transactional market moves off the bottom of the cycle.”
Broad interest in all asset classes, though preferences are shifting
Underlying fundamentals are improving across all sectors. As high-profile, global firms lead the return-to-office charge, prime urban office assets are attracting renewed interest, while secondary assets and locations are witnessing value-add strategies play out for redevelopment and renovation. A large number of offices purchased in the last 12 months have been acquired for redevelopment into higher quality, more sustainable offices to match elevated standards required by occupiers.
Similar to the bifurcation in office assets, industrial and logistics (I&L) assets continue to be a major investment theme, though flight to quality has also emerged in the sector. Many investors now seek assets that have solid sustainability credentials and modern features that tenants demand.
Driven by increasing disposable incomes and leisure travel, more investors are exploring hotels and shopping centres in strategic locations. Alternatives such as cold storage and senior housing continue to be subject to intense competition, given the scarcity of investible product. In particular, investors are chasing data centres due to the boom in artificial intelligence, but the sizeable energy needs of such facilities are running into supply and planning constraints in some markets.
“Where there is tight inventory, limited new development opportunity or high costs for ground-up construction, investors should consider value-add or opportunistic properties in well-located areas and take a redevelopment approach to support demand,” added Dawson.
Increased private wealth investments marks shift from credit to equity
Colliers expects private investors, especially family offices and private equity funds, to be among the more active buyers in 2025. As interest rates escalated, they stepped in amid the pullback by credit-backed investors. Even as the market recovers and monetary easing assists debt-backed participants, more private generational wealth is likely to expand into real estate. Colliers also predicts a pivot back to equity-focused strategies as debt becomes more accessible and investors reallocate capital to traditional equity structures like joint ventures, recapitalizations, and M&A.
“Family offices and private wealth are expanding and bolstering the commercial real estate investor base because they often have access to more nimble and versatile capital,” said Damian Harrington, Head of Research for Colliers’ Global Capital Markets platform and EMEA. “As they continue to grow and diversify their portfolios, they – like all investors – must stay informed of market conditions and regulatory changes impacting real estate: ranging from residential rent caps and utility provision, to planning policies that would impact construction. Successfully entering new markets or niches often requires expert advisers who can help you navigate the market and explore innovative structures.”
Regional highlights:
- APAC: Rate cuts are expected to drive transaction volumes, with high interest in logistics, multifamily, and office sectors.
- EMEA: Demand for high-quality office and logistics assets is growing, with a notable return of shopping centres and tourism-driven hotel investments.
- U.S.: Declining rates and stabilized vacancies in multifamily and industrial segments are likely to drive investment.
- Canada: Domestic institutions are returning, with a continued focus on industrial and a cautious optimism for office markets.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading global diversified professional services company, specializing in commercial real estate services, engineering consultancy and investment management. With operations in 70 countries, our 22,000 enterprising professionals provide exceptional service and expert advice to clients. For nearly 30 years, our experienced leadership – with substantial inside ownership – has consistently delivered approximately
Media Contact
Andrea Cheung
Senior Manager, Global Integrated Communications
andrea.cheung@colliers.com
416-324-6402
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FAQ
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