The global real estate sector faced a challenging year in 2025. The first half went through a period of market adjustment driven by economic, geopolitical, and social shifts. This phase brought price corrections and uncertainty across investment decisions. Conditions began to improve during the second half of the year. According to JLL’s Global Real Estate Outlook 2025, global real estate investment showed clear signs of recovery in the second half, supported by interest rate stabilization and greater visibility around the economic outlook. This recovery led the global real estate market to reach USD 4.34 trillion in 2025, and according to Precedence Research, it is expected to grow to USD 4.58 trillion in 2026, with projections exceeding USD 7 trillion by 2034.

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As capital returned during the second half of 2025, investment criteria became more defined. Priority shifted toward segments capable of generating recurring income and maintaining stable occupancy levels, as highlighted by JLL in its analysis. This change in focus is shaping decisions for 2026 and explains why certain asset types, management models, and locations are now receiving greater attention. This report explores the trends expected to define the global real estate market and how owners and investors can interpret this environment to better position their assets and anticipate capital movements.

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Stable demand

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According to the Emerging Trends in Real Estate Global Outlook 2025 by PwC and Urban Land Institute, investors have concentrated their attention on assets capable of sustaining recurring income and consistent occupancy. This preference reflects a shift toward models that are less exposed to economic volatility.

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As a result, rental residential assets continue to hold a strong position internationally. The OECD notes that demographic pressure and limited new housing supply in urban areas continue to support rental demand, particularly in developed economies. This situation has increased interest in rental formats designed for mid and long-term stays, with lower turnover and more sustainable demand.

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Several data points support this preference for stability. In the United States, according to a survey published by Talker Research for Lemonade, 62 percent of renters do not plan to move within the next year, and many residents are staying longer in their homes, indicating greater permanence in the rental market. In Europe, residential mobility reports from DM Properties Marbella point to a growing number of people opting for medium-term relocations linked to education, work, or quality of life, which favors longer contracts. In Dubai, while rental growth moderated during 2025, the market continues to show annual rent increases above 8 percent, reflecting sustained housing demand even during periods of economic adjustment and reinforcing interest in longer lease terms.

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Secondary cities

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Pressure on rental markets in major cities is also driving demand toward surrounding areas and nearby municipalities. In the metropolitan regions of Madrid and Barcelona, Idealista’s 2025 rental demand study shows that peripheral locations such as Leganés, Móstoles, Getafe, Fuenlabrada, Torrejón de Ardoz, and Alcalá de Henares rank among the most sought-after rental markets. This trend reflects a shift toward areas offering more accessible prices and greater housing availability.

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In the United States, while Austin, Texas, has experienced a surge in residential construction and increasing supply, accelerated population movement toward nearby suburbs is also evident. For example, the municipality of Georgetown, located approximately 50 kilometers north of Austin, saw its population grow by more than 51 percent between 2020 and 2024, surpassing 100,000 residents and attracting people from the broader metropolitan area due to increased space and lower living costs, according to MySA.

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Similar patterns appear across Europe. In Germany, rising prices and limited supply in Berlin have fueled residential growth in Brandenburg, where the population increased by more than 7 percent between 2013 and 2023, according to Destatis. In France, higher rents in Paris have strengthened demand in surrounding departments of Île-de-France such as Seine-Saint-Denis and Val-de-Marne, which account for a significant share of regional population growth, according to INSEE. A comparable trend can be seen in the Netherlands, where housing shortages in Amsterdam have supported the development of nearby cities such as Almere, which surpassed 220,000 residents in 2024, growing well above the national average, according to CBS.

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Management and technology

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Real estate profitability increasingly depends on the ability to manage daily operations effectively. This reality is reflected in growing investment in property management technology. According to StartUs Insights, the global property management market is expected to reach USD 42.78 billion by 2030, with an annual growth rate of 8.3 percent, driven by digitalization, data analytics, and operational automation. This growth responds to a clear need to reduce operational errors.

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According to PwC, adopting digital tools in real estate improves operational efficiency and helps anticipate risks at a time when margins are under increasing pressure. As a result, operators using integrated digital platforms gain better visibility over income, incidents, and maintenance costs, which supports decision-making and reduces budget deviations.

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In models with moderate turnover, daily operations have a direct impact on profitability, making property management systems especially valuable. Many of these tools incorporate artificial intelligence and IoT devices, enabling asset monitoring, early maintenance planning, and cost reduction. In practical terms, Arrento by Lodgerin has helped property managers improve operational efficiency by 35 percent, increase average profitability by 40 percent, and raise occupancy levels.

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Sustainability, energy, and obsolescence risk

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From 2026 onward, energy efficiency is no longer only a matter of image or environmental responsibility, but of cost control, demand, and long-term market relevance. Older buildings with poor energy performance face greater difficulty in attracting tenants, stricter regulatory requirements, and higher costs for necessary upgrades. According to the Urban Land Institute, properties that fail to reduce energy consumption face a higher risk of value loss, particularly in markets with strict efficiency standards.

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This shift is already influencing investment and financing decisions. Assets with stronger energy certifications tend to maintain occupancy more easily and access financing under more favorable conditions. As a reference point, the International Energy Agency (IEA) reports that buildings account for nearly 30 percent of global energy consumption, explaining why regulation and public policy are becoming increasingly restrictive. For property owners, reviewing energy performance and planning improvements has become a practical priority.

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Rentals linked to academic mobility

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Academic mobility has driven demand for medium-term rentals. The expansion of international university programs, exchanges, master’s degrees, and research stays has created a student profile that requires housing for several months, with defined dates and clear conditions. As a result, more people fall outside both traditional long-term rentals and short-term tourist accommodation, seeking solutions designed specifically for their academic stage.

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This trend is visible in university cities worldwide. Savills notes that the persistent mismatch between available supply and the number of international students continues to support interest in student-oriented accommodation. Knight Frank also highlights that international academic mobility contributes to stable occupancy due to defined academic calendars and recurring demand that renews year after year.

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This shift in demand also affects how supply is structured and managed. Student-focused models require clear processes, contracts aligned with academic timelines, and professional management capable of coordinating arrivals, departures, and services efficiently. In 2026, competitive advantage in this segment is not only about owning properties, but about delivering an experience aligned with academic needs and maintaining ongoing relationships with educational institutions and international programs.

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Real estate secondaries

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The real estate market is incorporating an increasingly relevant investment approach as the sector matures: real estate secondaries. This model allows investors to buy and sell existing interests in real estate funds or vehicles rather than entering inception. According to Preqin, the real estate secondary market has grown steadily in recent years, driven by liquidity needs, portfolio restructuring, and greater institutional capital sophistication.

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These transactions are particularly attractive because they reduce typical real estate investment uncertainty. Investors enter assets that are already operating, with real data on occupancy, income, and costs, enabling more accurate valuation. At the same time, this approach offers an orderly exit for investors seeking to adjust exposure without waiting for a fund’s natural closing. Campbell Lutyens, a firm specialized in real assets secondaries, highlights that this market has become a key tool for risk management and capital rotation in more demanding environments.

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In 2026, this model is expected to become a regular complement within real estate strategies, particularly in larger portfolios. According to Secondaries Investor, increased activity in this segment reflects growing demand for flexibility and efficiency in a traditionally illiquid sector. Without replacing direct investment, the secondary market adds agility, allowing capital reallocation and opportunity capture without starting from scratch, reinforcing the shift toward a more dynamic and sophisticated real estate market.

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A new phase

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Global real estate investment in 2026 points toward a more selective phase, focused on operational quality, demand fundamentals, and regulatory resilience. Capital is seeking defensible income, efficient assets, and management models capable of delivering consistent experiences. Those who combine strong local insight with professional standards and realistic energy plans will be better positioned to capture value without relying on fragile strategies.