Commercial real estate companies remain optimistic about 2026, with 83% expecting revenue growth, according to a Deloitte report. This represents a slight decline from 88% last year, while 68% plan to increase expenses in 2026.
The sentiment index measuring optimism about revenue, expenses and market fundamentals reached 65 points out of 100, well above the 2023 level of 44 points and close to last year's 68 points. About 65% of participants expect market fundamentals to improve across areas such as cost and availability of capital, rental levels, and vacancies.
European companies showed the highest optimism, with about 70% expecting improvements in leasing, lending and capital market funding. Asia-Pacific respondents were more cautious, with 63% expecting market improvements but nearly 20% foreseeing worsening capital costs and availability. North American companies took a neutral approach, with 25% expecting stable conditions.
Almost 75% of participants intend to increase real estate investment levels, mainly to protect against inflation (34%), diversify portfolios (26%) or gain tax benefits (14%). Capital availability ranked as the top concern for financial performance in 2026, rising from sixth place last year, followed by interest rates, cost of capital, currency volatility and tax policy changes.
"Real estate companies are adapting to business environment volatility and increasingly relying on speed of reaction while identifying long-term opportunities," said Irina Dimitriu, Partner at Reff & Associates | Deloitte Legal, and Real Estate Industry Leader at Deloitte Romania. "In Romania, companies are counting on gradual inflation decreases and continued public infrastructure investment, which can generate increased demand across industrial, logistics, retail and office markets."
The study was conducted among more than 850 commercial real estate companies with assets of over $250 million each across Europe, North America and Asia-Pacific.
