The global office market recorded a strong rebound in 2025 as renewed investor confidence, improving occupational conditions, and cheaper debt supported a broad recovery in transactional activity. Although not all markets and asset types benefited equally, the overall trend reflects a clear return of investor demand for high‑quality, well‑located offices, supported by solid rental growth and a constrained development pipeline.

A gradual revival in cross‑border activity is also evident, supported by a pick-up in outbound US capital. With capital values stabilising and investors showing more conviction in the view that the market has moved past the trough, the sector enters 2026 with positive momentum and expectations of further growth.

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