After the market dislocation of 2023, investors will be hoping for a calmer 2024 in commercial real estate. We identify five key influences to help investors navigate the challenges and opportunities ahead.  

The total return for properties in the MSCI Global Quarterly Property Index sank to -3.8% in the fourth quarter of 2022 amid a deepening global malaise. For the first time since 2009, all property segments posted negative returns.

The 2022 performance of the MSCI UK Annual Property Index reflects what we have seen in the sagging U.K. monthly and quarterly indexes, with a decline of 7.1% for the full year. The speed of the downturn of industrial properties was quite remarkable.

It is increasingly clear that commercial real estate is experiencing a downturn but, due to the relative opacity of private real estate, it is not clear how much further we may have to go before we reach the bottom. Industry veterans David Green-Morgan and Will Robson join us for an in-depth discussion on performance drivers and where investors may be focused as 2023 marches on.

The MSCI Global Quarterly Property Index returned -0.1% in the third quarter, though not all countries posted negative returns.

The myriad headwinds that the global commercial real estate market has faced in 2022 — soaring inflation, higher interest rates, post-pandemic workplace arrangements, geopolitical tensions and more — might have slowed transactions.