CBRE’s H2 2021 Cap Rate Survey

Cap rates have compressed across the real estate spectrum in 2021. The industrial sector’s super-charged rent growth fueled the largest decline in property yields, regardless of class or risk profile. Multifamily also saw notable yield compression, particularly in the suburbs.

What’s in the report?

CBRE’s U.S. Cap Rate Survey reflects the input of hundreds of our Capital Markets and Valuations professionals on how sentiment and pricing are changing across multiple dimensions of commercial real estate nationwide. The report, based on 3,600 cap rate estimates across more than 50 markets, summarizes cap rate trends by property type and provides insights on how the capital markets will evolve as 2022 unfolds.

Please note the Cap Rate Survey was conducted before the Russia-Ukraine situation intensified dramatically in late February.

How can I access the underlying data?

The Cap Rate Survey dataset is now available on within the Builder application. We will release a H1 2022 Cap Rate Survey during the second half of 2022.