Citi’s global real estate research team—Nick Joseph (U.S.), Aaron Guy (U.K.), and Howard Penny (Australia)—forecast higher real estate stock returns in 2026 than in 2025, driven by a more encouraging global supply‑demand balance and constructive growth outlooks. They expect total returns of 10‑15% for U.S. REITs and stronger performance across the U.S., Europe, Latin America, Singapore, Thailand, and the Philippines, while Australia and China are projected to be flat and Hong Kong, Japan, and the Middle East weaker. Joseph highlighted the “massive dispersion” of performance within the REIT sector, creating abundant alpha‑generation opportunities across different stocks and sub‑sectors.

In this episode, Henry Chin, global head of research at CBRE, outlines the outlook for U.S. commercial real estate investing in 2026, noting a strong investor sentiment and an anticipated 16% rise in capital deployment. He explains that the surge...