仲量联行(JLL)：2025年全球房地产市场展望报告：五大预测（英文版）（10页）.pdf

1、Research|December 2024 1 Global real estate outlook Five predictions for 2025 The year ahead looks set to be a pivotal one for commercial real estate.While performance is asynchronous across geographies and markets and across asset types within markets on balance we believe the real estate cycle has

2、 turned a corner.Our recent Global Real Estate Sentiment survey is indicative of this shift.As of November 2024,we saw the strongest result in nearly three years.A majority of respondents are indicating they think conditions will improve further over the next six months.Most optimistic outlook since

3、 February 2022 JLLs Global real estate sentiment survey Source:JLL Research 2024 Thats not to say that 2025 will be an easy year.We are likely to see an unsettling level of uncertainty:economic,regulatory,fiscal and trade policies will continue to change and take shape,and we will be watching these

4、closely.Interest rates in most markets will proceed on their downward trajectory,but expectations for the speed and magnitude of change have proven highly dynamic and we expect to see signals of continued volatility.Events can supersede plans at any point and alter rate-setters expected decisions.An

5、d this is to say nothing of the ongoing and potential geopolitical conflicts around the world.Global real estate outlookGlobal real estate outlook 2 Interest rates expected to continue on their downward trend in most markets Market forward view of policy rates(%)Source:Refinitiv,JLL;based on OIS rat

6、es,Data from 06.12.2024 We think opportunities will be plentiful in the coming year,but to thrive in 2025,real estate participants will need to understand the details and nuances at the market,asset and space levels in addition to the secular trends.This rising tide may not lift all boats,so it will