Real Estate Investment Briefing
Summary
JLL’s Global Bid Intensity Index shows a sustained recovery in commercial real estate bidding competition, with October marking the second-highest monthly gain in the past year. This trend, driven by anticipated interest rate cuts and improving investor confidence, is strongest in the multifamily housing sector and is expected to support capital flow growth into 2026.
Key Points
- Sustained Recovery: Bidding competitiveness for commercial real estate rose for the fourth consecutive month in October, indicating improving market liquidity.
- Multifamily Leads: The multifamily housing sector shows the strongest bidding activity, fueled by a severe U.S. housing shortage and high for-sale home prices.
- Sector Rebound: The industrial and logistics sector saw a significant rebound in bidder competition as trade policy concerns eased.
- Office Recovery: The office sector is recovering, with bid activity rising from late 2023 lows, supported by growing lender participation.
- Investor Sentiment: Institutional investors are showing increased confidence and higher risk tolerance, expecting further rate cuts in 2024 despite near-term uncertainty.
- Market Outlook: JLL forecasts continued improvement in business confidence and capital flows, extending into 2026, aided by strong debt markets.
房地产投资简报
摘要
仲量联行（JLL）的全球竞标强度指数显示，商业地产竞标竞争持续复苏，10月份录得过去一年中第二高的月度涨幅。这一趋势由预期的利率下调和提高的投资者信心推动，在多户住宅领域最为强劲，预计将支持资本流动持续增长至2026年。
关键要点
- 持续复苏：10月份商业地产竞标竞争力连续第四个月上升，表明市场流动性正在改善。
- 多户住宅领先：多户住宅领域表现出最强劲的竞标活动，主要受美国严重的住房短缺和高昂的房屋售价推动。
- 板块反弹：随着贸易政策不确定性略有缓解，工业和物流板块的竞标竞争显著反弹。
- 办公楼复苏：办公楼板块正在复苏，竞标活动从2023年底的低点上升，并得到贷款机构参与度提高的支持。
- 投资者情绪：机构投资者信心增强，风险承受能力提高，尽管近期存在不确定性，仍预期2024年利率将进一步下调。
- 市场展望：仲量联行预测，在强劲的债务市场支持下，商业信心和资本流动将持续改善，并延续至2026年。
Original Article Link: https://www.cnbc.com/2025/11/25/jll-global-bid-intensity-index-october-multifamily-housing.html