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**Hines: Global Real Estate Nears Inflection Point in 2026**
After years of turbulence and repricing, Hines sees global real estate approaching a pivotal moment, with 2026 poised as a potential inflection point. In its newly released report titled *Cleared for Takeoff: A New Flight Path for Real Estate*, the firm forecasts a constructive phase ahead, highlighting strategic opportunities across the living, industrial, retail, and alternative sectors as the market enters a disciplined recovery.
“After years of turbulence, real estate appears to be finding stability,” said David Steinbach, Global CIO at Hines. “The next phase should be a steady climb across pockets of opportunity that reward discipline, hyperlocal insight, and strong execution. As clarity returns to pricing and fundamentals, investors who remain measured, intentional, and strategic will likely be the ones who succeed.”
**Key Investment Themes**
**Living Sector:**
The living segment — including multifamily and student housing — remains a high-conviction theme for Hines. Approximately 80% of households in developed economies continue to choose renting over homeownership, influenced by affordability concerns, scarcity of options, and persistent underbuilding. Moreover, the decline in new construction starts is reinforcing long-term value in the sector.
**Industrial Sector:**
With deglobalization and a rise in intra-regional trade, new corridors of demand are emerging globally. Developed markets in Asia and Europe have seen a sharp decline in new supply, providing support for sustained rental growth. Additionally, the industrial sector is increasingly overlapping with retail and data centers, opening up opportunities for repositioning assets.
**Retail Sector:**
Hines reports that global retail fundamentals are showing signs of strength and stability. In the U.S., retail was the top-performing sector in the NCREIF index for 11 consecutive quarters through the third quarter of 2025. Larger-format and necessity-based centers, especially those incorporating a living component, remain highly attractive amid historically low levels of new development.
**Office and Alternatives:**
The U.S. office market continues to present opportunities across the capital stack, particularly in equity, as fundamentals begin to show early signs of recovery. Notably, office demand in Asia rose by 25% year-over-year, and the U.S. recorded its strongest absorption figures since 2019. In the alternative space, the rapid expansion of AI-driven demand for data centers is significantly reshaping real estate development and land-use strategies.
“As we enter 2026, the evidence of a market bottom in 2025 appears increasingly clear,” said Joshua Scoville, Head of Global Research at Hines. “Values are already rising in Europe and Asia, and the U.S. appears poised to follow. With moderate demand, limited new supply, and the accelerating influence of AI and infrastructure investments, the year ahead could prove to be a game changer for disciplined global investors.”
Hines’ outlook underscores a cautiously optimistic view of the evolving real estate landscape — one driven by selective investment, operational excellence, and a focus on emerging long-term trends.
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