Retail properties had the highest capitalization rates in the United States in 2023, followed by offices. The cap rate for office real estate was **** percent in the fourth quarter of the year and was forecast to rise further to **** percent in 2024. Cap rates measure the expected rate of return on investment, and show the net operating income of a property as a percentage share of the current asset value. While a higher cap rate indicates a higher rate of return, it also suggests a higher risk. Why have cap rates increased? The increase in cap rates is a consequence of a repricing in the commercial real estate sector. According to the National NCREIF Property Return Index, prices for commercial real estate declined across all property types in 2023. Rental growth was slow during the same period, resulting in a negative annual return. The increase in cap rates reflects the increased risk in the investment environment. Pricing uncertainty in the commercial real estate sector Between 2014 and 2021, commercial property prices in the U.S. enjoyed steady growth. Access to credit with low interest rates facilitated economic growth and real estate investment. As inflation surged in the following two years, lending policy tightened. That had a significant effect on the sector. First, it worsened sentiment among occupiers. Second, it led to a decline in demand for commercial spaces and commercial real estate investment volumes. Uncertainty about the future development of interest rates and occupier demand further contributed to the repricing of real estate assets.

Dollar stores with single tenant net leases in the United States had an average cap rate of **** percent as of the fourth quarter of 2024. That made them the property type with the second-highest cap rate. Conversely, convenience stores had a cap rate of *** percent, the lowest among the property types observed. Triple net leases (NNN) are single tenant leases, where in addition to rent and utilities, the tenant is responsible for the additional property expenses, including taxes, insurance, and maintenance. These leases are common for office, retail, industrial, and logistics properties.

The cap rate for industrial and logistics real estate in the United States grew in 2023, after hitting a record-low in 2023. In the fourth quarter of 2023, the cap rate was **** percent and by the end of 2026, it was forecast to decline to **** percent. Cap rates measure the expected rate of return on investment properties and are calculated by dividing the net operating income of the property by the current asset value. While a higher cap rate indicates a higher rate of return, it is also associated with higher risk, such as declining property values.

Cap rates in the U.S. multifamily real estate sector have increased significantly since 2021, reflecting a rise in borrowing costs. In 2023, the average multifamily cap rate was **** percent, up **** percent in 2021, when it was at its low. By 2026, the average multifamily cap rate is forecast to decline slightly, to **** percent.

In the first quarter of 2022, retail centers in the United States had a higher capitalization rate than shops. Capitalization rate, also referred to as cap rate, shows the ratio of the net operating income towards the property asset value. In the first quarter of 2022, the average cap rate of retail real estate in the U.S. was **** percent.

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Europe Commercial Real Estate Market Size 2025-2029

Europe commercial real estate market size is forecast to increase by USD 91.4 billion at a CAGR of 5.7% between 2024 and 2029. European commercial real estate market is experiencing significant growth, with increasing private investment pouring into the sector. The primary catalyst fueling market growth is the increasing aggregate private investment.This trend is driven by a robust economic environment, favorable demographic shifts, and the ongoing recovery from the COVID-19 pandemic.

Market Size & Forecast

  Market Opportunities: USD 31.78 billion
  Future Opportunities: USD 91.4 billion 
  CAGR : 5.7%  

However, this growth comes with challenges,rising interest rates pose a threat to affordability and profitability, potentially dampening investor enthusiasm and increasing borrowing costs. As a result, companies must navigate this complex landscape by carefully assessing potential investment opportunities, considering alternative financing options, and adapting to changing market conditions. In order to capitalize on the market's potential and mitigate risks, strategic planning and agility will be essential for success.

What will be the size of Europe Commercial Real Estate Market during the forecast period?

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European commercial real estate market continues to evolve, presenting dynamic opportunities across various sectors. Property risk assessment and building inspection reports play crucial roles in mitigating potential hazards, ensuring compliance with safety standards. Property tax appeals and portfolio diversification help investors minimize risk and maximize returns. Facility management services, property valuation techniques, and property value metrics enable effective asset management. Data-driven investment strategies, including transaction closing costs, space planning solutions, and development approval processes, facilitate informed decision-making. Capital expenditure planning, portfolio optimization, operating expense control, lease contract review, energy consumption audits, and commercial lease terms are essential for maintaining profitability.
For instance, the adoption of energy management systems in commercial buildings has led to a 10% average reduction in energy consumption, contributing to cost savings and environmental sustainability. Commercial real estate market is expected to grow by 3% annually, driven by these evolving trends and the ongoing demand for efficient, sustainable, and compliant properties.

How is this Europe Commercial Real Estate Market segmented?

Europe commercial real estate market market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029,for the following segments.

Type

  Rental
  Lease
  Sales


End-user

  Offices
  Retail
  Leisure
  Others


End-User

  Corporate
  Investment
  Government


Location

  Urban
  Suburban


Geography

  Europe

    France
    Germany
    Italy
    UK

By Type Insights

The rental segment is estimated to witness significant growth during the forecast period. European commercial real estate market is characterized by dynamic lease renewal negotiations, construction project management, and insurance considerations for green building certification and property refurbishment costs. Zoning regulations compliance and vacancy loss calculations are crucial elements in property acquisition strategy, while property tax optimization and valuation models inform building lifecycle cost analyses. Property management software and tenant occupancy rates are essential for portfolio performance metrics, and market rent surveys guide tenant retention strategies. Portfolio risk management, building code compliance, property data analytics, and rental income projections are integral to asset management strategies. Due diligence processes and capitalization rate analysis are vital during urban planning regulations and space utilization analysis.

In the rental segment, growth is expected to reach over 5% annually, with office rents in the UK, Benelux markets, and peripheral Europe experiencing the highest quarterly growth of 1.8%. However, investment markets remain cautious due to economic uncertainties and rising inflation and finance rates, despite the leasing market's strength and increasing rents. For instance, rental income in the office sector in Paris grew by 3.5% in 2021, reaching €1,122 per square meter per year.

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Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

European commercial real estate market continues to be a significant global investment destina

Graph and download economic data for Commercial Real Estate Prices for United States (COMREPUSQ159N) from Q1 2005 to Q1 2025 about real estate, commercial, rate, and USA.

As of March 2025, grade A offices in core locations in Bengaluru, India, had a median cap rate of around *** percent. In comparison, the median cap rate of grade A offices in core locations in Taipei, Taiwan, was around *** percent as of March 2025.

Multifamily buildings had some of the lowest cap rates in Canada in the first quarter of 2023. For class A multifamily high rise buildings, investors could expect a capitalization rate of **** percent, while for class AA downtown offices, the cap rate was **** percent. The capitalization rate measures the rate of return on commercial properties and is calculated by dividing the net operating income of a property by its asset value. While a higher rate might promise higher return, it is also an indication of a riskier asset.

The India Real Estate Market Report is Segmented by Business Model (Sales and Rental), by Property Type (Residential and Commercial), by End-User (Individuals/Households, Corporates & SMEs and Others), and by City (Mumbai Metropolitan Region, Delhi NCR, Pune, Bengaluru, Hyderabad, Chennai, Kolkata, Ahmedabad, and the Rest of India). The Market Forecasts are Provided in Terms of Value (USD).

In December 2024, the average capitalization rate of retail properties in suburban areas owned by core real estate funds in Japan stood at **** percent. The cap rate of hotel properties increased to **** percent, up from **** percent in December of the previous year.

Commercial valuation data collected and maintained by the Cook County Assessor's Office, from 2021 to present. The office uses this data primarily for valuation and reporting. This dataset consolidates the individual Excel workbooks available on the Assessor's website into a single shared format. Properties are valued using similar valuation methods within each model group, per township, per year (in the year the township is reassessed). This dataset has been cleaned minimally, only enough to fit the source Excel workbooks together - because models are updated for each township in the year it is reassessed, users should expect inconsistencies within columns across time and townships. When working with Parcel Index Numbers (PINs) make sure to zero-pad them to 14 digits. Some datasets may lose leading zeros for PINs when downloaded. This data is property-level. Each 14-digit key PIN represents one commercial property. Commercial properties can and often do encompass multiple PINs. Additional notes: Current property class codes, their levels of assessment, and descriptions can be found on the Assessor's website. Note that class codes details can change across time. Data will be updated yearly, once the Assessor has finished mailing first pass values. If users need more up-to-date information they can access it through the Assessor's website. The Assessor's Office reassesses roughly one third of the county (a triad) each year. For commercial valuations, this means each year of data only contain the triad that was reassessed that year. Which triads and their constituent townships have been reassessed recently as well the year of their reassessment can be found in the Assessor's assessment calendar. One KeyPIN is one Commercial Entity. Each KeyPIN (entity) can be comprised of one single PIN (parcel), or multiple PINs as designated in the pins column. Additionally, each KeyPIN might have multiple rows if it is associated with different class codes or model groups. This can occur because many of Cook County's parcels have multiple class codes associated with them if they have multiple uses (such as residential and commercial). Users should not expect this data to be unique by any combination of available columns. Commercial properties are calculated by first determining a property’s use (office, retail, apartments, industrial, etc.), then the property is grouped with similar or like-kind property types. Next, income generated by the property such as rent or incidental income streams like parking or advertising signage is examined. Next, market-level vacancy based on location and property type is examined. In addition, new construction that has not yet been leased is also considered. Finally, expenses such as property taxes, insurance, repair and maintenance costs, property management fees, and service expenditures for professional services are examined. Once a snapshot of a property’s income statement is captured based on market data, a standard valuation metric called a “capitalization rate” to convert income to value is applied. This data was used to produce initial valuations mailed to property owners. It does not incorporate any subsequent changes to a property’s class, characteristics, valuation, or assessed value from appeals.Township codes can be found in the legend of this map. For more information on the sourcing of attached data and the preparation of this datase

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REIT Market Size 2025-2029

The reit market size is forecast to increase by USD 372.8 billion, at a CAGR of 3% between 2024 and 2029.

The market is experiencing significant growth driven by the increasing global demand for warehousing and storage facilities. This trend is fueled by the e-commerce sector's continued expansion, leading to an increased need for efficient logistics and distribution networks. An emerging trend in the market is the rise of self-storage as a service, offering investors attractive returns and catering to the growing consumer preference for flexible and convenient storage solutions. However, the market faces challenges as well. Vertical integration by e-commerce companies poses a threat to the industry, as these companies increasingly control the entire supply chain from production to delivery, potentially reducing the need for third-party logistics and storage providers. Additionally, regulatory changes and economic uncertainties can impact REITs' profitability and investor confidence. Companies seeking to capitalize on market opportunities and navigate challenges effectively must stay informed of these trends and adapt to the evolving landscape.

What will be the Size of the REIT Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with various sectors such as retail, industrial, and commercial real estate experiencing dynamic shifts. Family offices, pension funds, high-net-worth individuals, and sovereign wealth funds increasingly invest in this asset class, seeking diversification and stable returns. Market volatility, driven by economic cycles and interest rate fluctuations, influences investment strategies. Artificial intelligence and property technology are transforming the industry, with data analytics and digital platforms streamlining property management, investment, and appraisal processes. Multifamily housing and single-family homes remain popular choices due to their rental income potential and capital appreciation opportunities. Property taxes, inflation risk, and maintenance costs are essential considerations for investors, requiring effective risk management strategies. Net operating income, return on equity, and occupancy rates are critical performance metrics. Regulatory environment and property regulations also impact the market, influencing capitalization rates and shareholder value. Institutional investors explore equity and debt financing, real estate brokerage, and securities offerings to capitalize on opportunities. Property investment platforms, real estate syndications, and property management companies facilitate access to diverse offerings. Green building standards and sustainable development are gaining traction, attracting socially responsible investors. The ongoing digital transformation of the real estate sector, including smart buildings and hybrid REITs, offers new investment opportunities and challenges. Investors must stay informed of market trends and adapt their strategies accordingly.

How is this REIT Industry segmented?

The reit industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeIndustrialCommercialResidentialApplicationWarehouses and communication centersSelf-storage facilities and data centersOthersProduct TypeTriple netDouble netModified gross leaseFull servicePercentageGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSingaporeRest of World (ROW).

By Type Insights

The industrial segment is estimated to witness significant growth during the forecast period.The retail and industrial real estate sectors dominate the market, with industrial real estate leading in 2024. The industrial segment's growth is driven by the increasing demand for warehousing space due to the surge in e-commerce and online sales during the COVID-19 pandemic. Supply chain disruptions have compelled companies to lease more warehouse space to store additional inventory, leading to increased occupancy and rental rates. Furthermore, the proximity of fulfillment centers to metropolitan areas caters to the growing number of online consumers. This trend will continue to fuel the expansion of industrial REITs, offering significant growth opportunities for the market. Asset management companies, pension funds, and high-net-worth individuals are increasingly investing in REITs for their attractive dividend yields and potential for capital appreciation. Private equity firms and family offices are also active players in the market, providing equity financing for REITs. Real estate agents and brokers facilitate transactions, while debt financing from banks and i

Taipei, Tokyo, and Osaka were the markets with the lowest cap rates for logistics real estate among the 19 Asia-Pacific (APAC) markets compared. Traditional logistics facilities in Taipei achieved a maximum market cap of **** percent in the first quarter of 2025, while the market capitalization of institutional-grade logistics was even lower, at **** percent. The cap rate measures the rate of return on commercial properties and is calculated by dividing the net operating income of a property by its asset value. While a higher rate might promise higher return, it is also an indication of a riskier asset.

Unlock the full potential of the short-term rental market with our comprehensive Airbnb Listing Data. This dataset provides a granular, 360-degree view of listing performance, property characteristics, and market dynamics across key global geographies. Designed for Real Estate Investors, Property Managers, Hedge Funds, and Travel Analysts, our data serves as the backbone for data-driven decision-making in the hospitality sector.

Whether you are looking to optimize pricing strategies, identify high-yield investment neighborhoods, or analyze amenity trends, this dataset delivers the raw intelligence required to stay ahead of the competition. We capture high-fidelity signals on listings, availability, pricing, and reviews, allowing you to model supply and demand with precision.

Key Questions This Data Answers Our data is structured to answer the most pressing commercial questions in the short-term rental industry. By leveraging our granular fields, analysts can immediately address:

Market Composition: What is the exact distribution of property types (Entire Home vs. Private Room vs. Shared) in a specific market? Understand supply saturation instantly.

Amenity ROI: Which amenities are most common in top-performing listings? Correlate features (e.g., Pools, Hot Tubs, Wi-Fi speeds) with Occupancy Rates and ADR (Average Daily Rate) to determine the ROI of renovations.

Pricing Intelligence: How does nightly price vary by neighborhood, seasonality, and property type? Visualize price elasticity and identify arbitrage opportunities between sub-markets.

Geospatial Density: What is the density of listings in different geographical areas? Pinpoint "hot zones" for tourism and identify underserved areas ripe for new inventory.

Performance Benchmarking: How do my listings compare to the top 10% of competitors in the same zip code?

Comprehensive Use Cases 1. Market Analysis & Competitive Positioning Gain a competitive edge by understanding the landscape of any target city.

Competitor Mapping: Track the growth of listing supply in real-time. Identify which property managers control the market share.

Saturation Analysis: Avoid over-supplied markets. Use density metrics to find neighborhoods with high demand but low inventory.

Trend Forecasting: Analyze historical data to predict future supply shifts and market saturation points before they occur.

1. Pricing Strategy & Revenue Management Move beyond static pricing. Our data enables dynamic pricing models based on real-world market conditions.

Attribute-Based Pricing: Quantify exactly how much a "Sea View" or "King Bed" adds to the nightly rate.

Seasonality Adjustments: Optimize calendars by analyzing historical price surges during holidays, events, and peak seasons.

RevPAR Optimization: Balance Occupancy and ADR to maximize Revenue Per Available Room (RevPAR).

1. Real Estate Investment & Valuation For investors and funds, this data acts as a fundamental layer for asset valuation.

Cap Rate Calculation: Combine our revenue data with property values to estimate potential yields and Cap Rates for prospective acquisitions.

Investment Scouting: Filter entire regions by "High Occupancy / Low Price" to find undervalued assets.

Due Diligence: Validate seller claims regarding income potential with independent, third-party data history.

1. Property Type & Amenity Distribution Analysis Understand what guests actually want.

Amenity Gap Analysis: Identify amenities that are in high demand (high search volume) but low supply in specific neighborhoods.

Renovation Planning: Data-driven insights on whether installing A/C or allowing pets will significantly increase booking conversion.

Data Dictionary & Key Attributes Our schema is designed for financial modeling and granular analysis. We provide over 50 distinct fields per listing, including calculated financial metrics for Trailing Twelve Months (TTM) and Last 90 Days (L90D).

Listing Identity & Characteristics:

listing_id: Unique identifier for the listing

listing_name & cover_photo_url: Title and main visual

listing_type & room_type: Property classification (e.g., villa, entire home)

amenities: Comprehensive list of offered features

min_nights & cancellation_policy: Booking rules and restrictions

instant_book & professional_management: Operational indicators

Property Specs & Capacity:

guests, bedrooms, beds, baths: Full capacity details

latitude, longitude, city, state, country: Precise geospatial coordinates

photos_count: Quantity of listing images

Host Intelligence:

host_id & host_name: Primary operator details

cohost_ids & cohost_names: Extended management team details

superhost: Quality badge status

Financial Performance (TTM - Trailing 12 Months):

ttm_revenue & ttm_revenue_native: Total gross revenue generated

ttm_avg_rate (ADR): Average Daily Rate achieved

ttm_occupancy & ttm_adjusted_occupancy: Raw vs. Adjusted (excluding owner blocks) occupancy

ttm_revpar & ttm_adjusted_revpar: Revenue Per ...

In December 2024, the average capitalization rate of logistics facilities owned by core real estate funds in Japan stood at **** percent. The cap rate declined from **** percent in December of the previous year.

The average cap rate for quick service restaurants (QSR) in the U.S. increased between 2022 and 2024. Cap rates show the rate of return investors expect from the investment property. In March 2024, the cap rate was **** percent, up from **** percent in April 2022.

Amid a worsening economic climate, the value of commercial real estate investment in the U.S. plummeted in 2023, with a mild increase in 2024. According to industry professionals, the biggest factors impacting the real estate industry in 2025 are the ************************and*******************************. Development of commercial real estate cap rates in the U.S. Cap rates started to increase in 2022, reflecting a decline in property values. According to the forecast, cap rates for commercial real estate are expected to peak in 2024, followed by a steady decline. Cap rates measure the expected rate of return on investment properties and are calculated by dividing the net operating income of the property by the current asset value. While a higher cap rate indicates a higher rate of return, it is also associated with higher risk. Which property type has the best development prospects? In 2025, the development opportunities in the commercial real estate sector deemed the best for single-family real estate. Industrial and distribution real estate, including warehouses, factories, and big box distribution centers, was also ranked high.

A mill is equal to $1.00 of tax for each $1,000 of assessment. To calculate the property tax, multiply the assessment of the property by the mill rate and divide by 1,000. For example, a property with an assessed value of $50,000 located in a municipality with a mill rate of 20 mills would have a property tax bill of $1,000 per year.

The rates for each year are based on the grand list from two years prior. For example, the mill rates for the 2021 fiscal year are based off the 2019 grand list.

Starting in FY 2017, legislation allows municipalities and special taxing districts to tax motor vehicles at a different rate than other taxable property, but it imposes a cap on the mill rate for motor vehicles. No district or borough may set a motor vehicle mill rate that if combined with the motor vehicle mill rate of the town, city, consolidated town and city or consolidated town and borough in which such district or borough is located would result in a combined motor vehicle mill rate above the cap.