The global commercial real estate outlook remains broadly positive, though somewhat tempered by the impact of rising tariffs, according to BGO’s outlook.
In North America, solid property-market fundamentals are expected to support income returns, even as uncertainty delays investment activity. Slowing economic growth is likely to prompt further rate cuts by the Bank of Canada, which could bolster valuations and yields. While increased credit risk may weigh on some assets, core properties may benefit from their relative stability.
Asia Pacific commercial real estate in the region should perform relatively well on the whole, though results will vary by country and sector. U.S. allies and major trading partners may better manage tariff impacts, while domestic-focused economies like Australia and India are more insulated. Their service-driven markets and limited U.S. exposure should support resilience and keep interest rates low. Japan is expected to remain a regional sa
