A powerful surge in credit-market liquidity is reviving global commercial real estate transactions. Investor bidding is rising, even amid macro uncertainty, drawn by the strong relative value proposition of commercial real estate — with conviction increasingly evident in larger transaction sizes.
This momentum is highlighted by JLL’s latest Global Bid Intensity Index (BII), which is now sitting well above levels from one year ago. June marked the sharpest monthly index improvement in a year, while July recorded the second-highest number of unique bidders since index inception, demonstrating expanding buyer pools.
At the same time, credit-market appetite remains exceptionally strong and is one of the factors propelling the transactions market. Though average winning loan-to-value (LTV) rates and distinct lender volumes have moderated since April, the Credit Intensity
