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.

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 main stock market index of United States, the US500, rose to 6464 points on September 1, 2025, gaining 0.06% from the previous session. Over the past month, the index has climbed 2.13% and is up 16.92% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks this benchmark index from United States. United States Stock Market Index - values, historical data, forecasts and news - updated on September of 2025.

View data of the S&P 500, an index of the stocks of 500 leading companies in the US economy, which provides a gauge of the U.S. equity market.

Key information about India Market Capitalization

• India Market Capitalization accounted for 4,388.733 USD bn in Feb 2025, compared with a percentage of 4,899.710 USD bn in the previous month
• India Market Capitalization is updated monthly, available from Jan 1993 to Feb 2025
• The data reached an all-time high of 5,663.221 USD bn in Sep 2024 and a record low of 55.322 USD bn in Apr 1993

CEIC converts monthly Market Capitalization into USD. BSE Limited provides Market Capitalization in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.

The largest owner of apartments in the United States was Greystar, an international developer and manager headquartered in Charleston, SC. In 2024, Greystar owned nearly 109,000 units. MAA, a Tennessee-based real estate investment trust, ranked second, with 85,000 apartments owned. Real estate investment trusts The majority of the largest owners of apartments in the U.S. are real estate investment trusts (REITs), which are companies who own (and usually operate) income producing real estate. REITs were created in 1960, when the Cigar Excise Tax Extension permitted investment in large-scale diversified real estate portfolios through the purchase and sale of liquid securities. This effectively aligned investment in real estate with other asset classes. In 2023, there were approximately 200 REITs in the United States with a market capitalization of 1.4 trillion U.S. dollars. Apartments in the United States The rental return for apartments in the U.S. has been steadily climbing in recent times, with the national monthly median rent for an unfurnished apartment steadily increasing since 2012. Over this period, apartment vacancy rates have been decreasing across the country, suggesting that demand outweighs supply. Accordingly, large-scale investment in apartments by REITs is likely to continue into the foreseeable future.