New Investor Sentiment Survey Results for 2H 2021

• The latest investor sentiment survey results point to optimism in 2H 2021

• Overall sentiment is stronger than '16, '17 '18 and even '19 which reiterates the momentum of commercial real estate

• The pricing outlook for most property types is strong with values expected to rise between 4.8% to 7.5% over the next 12 months

• On the other hand, sentiment for the hard-hit Retail and Office sectors is weaker with gains of only 1%

• 80%+ of investors expect interest rates and capital gains taxes to rise

• Roughly 3 out of 4 investors say their CRE property performance is better or equal to pre-COVID levels

• There’s also a clear preference for smaller geographies

• Buy-side sentiment by market type:

  • a. Tertiary Markets: 54%

  • b. Secondary Markets: 53%

  • c. Primary Gateway: 24%