PwC, ULI – Emerging Trends in Real Estate, 2026

The main theme of the report is the analysis of real estate market trends in Europe in 2026.

Key findings include a shift in sentiment from cautious optimism to a more pragmatic approach due to geopolitical and economic uncertainty. The report highlights a transitional period for the real estate market, driven by changes in historical factors such as low interest rates and globalization. Political factors, conflicts in Ukraine and the Middle East, and deglobalization are significantly impacting capital markets in real estate. The influence of the US on European real estate markets is increasing, especially in the context of tariff policies and economic unpredictability. Despite macroeconomic hurdles, an increase in debt and capital availability is expected in 2026.