As a subscriber of CBRE Econometric Advisors, you have exclusive access to the underlying data of our recently published H2 2022 Cap Rate Survey (CRS). The data is now available for download in excel file format.
The CRS was conducted in mid-November and December and reflects second-half 2022 deals. The survey, reflecting 3,600 cap rate estimates, sheds light on how investor sentiment is changing amid uncertain market conditions.
Key findings
Properties on the market have attracted fewer bidders and bid-ask spreads have widened.
Cap rates continue to decompress. Survey respondents expect yields to increase another 25 basis points over the next six months.
Despite concerns about the new construction pipeline, the industrial sector is expected to lead CRE performance over the next year, followed closely by multifamily.
Tight lending conditions and more defaults—particularly for office—are expected to characterize the market over the next two years.
Hotel average daily rate (ADR) growth is expected to exceed operating cost inflation.