04/21/2026
After two years of declining values and a largely stagnant 2025, the global real estate market is entering a more promising phase. Morgan Stanley Investment Management expects 2026 to mark an inflection point, with a recovery in both valuations and transaction activity.
Real estate is likely to recover in 2026, supported by lower rates, constrained supply and improving capital markets, though investors must navigate ongoing geopolitical risks and sector divergence.