Heading into 2026, the global scene is once again marked with hot wars, taut geopolitical tensions, straitened governments, and an undulating landscape for global trade and tariffs.
Central banks have largely concluded their recent rounds of rate cuts, while tighter money is on the agenda in Japan and possibly elsewhere as tenacious post- pandemic-era inflation persists in some economies. Nations’ borrowing costs, and bond yields generally, may rise uncomfortably if financiers grow concerned about government debt repayments.
Subdued global economic growth is expected in 2026, while some institutional property market segments, such as US offices and central business districts, are still under duress. China’s housing and commercial property markets remain seriously pressured, and Europe struggles with beleaguered government budgets, heavy taxes, stricter banking regulations and a grave battlefield on its Eastern border.
The challenge for institutional proper
