Overall, real estate investment activity has slipped in recent months, but tenant demand has held up across key commercial real estate markets globally, reports UBS Asset Management in the second edition of its Real Estate Summary of 2019, which evaluates the performance and outlook of global real estate investment markets moving into the second half of the year.

The report breaks down performance by geography and sector, focusing on global, Europe, Asia Pacific and the United States. UBS provides an analysis on capital market activity targeting the asset class and offers a strategic, forward-looking viewpoint on where the market is in the cycle and what this means for the future.

Globally, the economy did better than expected in first quarter 2019. Delayed policy tightening supports real estate, and investment activity was weaker across all regions, with cap rates leveling off. Occupier and investor markets reportedly look more resilient to any shock from the