Global Quarterly Property Fund Index (GPFI) | Q1 2026 Results
We report the latest quarterly results from the MSCI Global Quarterly Property Fund Index (GPFI), tracking investment performance of open-ended property funds domiciled across North America, the UK, Continental Europe and Asia Pacific.
Returns continued to recover in Q1 2026 with performance in a narrow band since the last quarter of 2024. All regions delivered positive returns overall, though divergence across geographies and sectors remained. With borrowing costs elevated in recent years, loan-to-value ratios remained elevated in a historical context. Retail remained the best-performing among the main property sectors on both a quarterly and twelve-month basis followed by residential and industrial. While offices still lagged on an annual basis, encouragingly the sector recorded its first positive capital growth since 2022Q2.
The Global Property Fund Index: available as a standard or custom index, a Portfolio Insights benchmark, and in the Index Intel research dataset.
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