2025年12月投资收益率指南

This yield guide is for indicative purposes onlyand was prepared on 08 December 2025. Knight Frank Intelligence Based on rack rented properties and disregards bond type transactions Prime Yield Guide–December 2025 This yield guide is for indicative purposes onlyand was prepared on 08 December 2025. Knight Frank Intelligence Based on rack rented properties and disregards bond type transactions Prime Yield Guide–December 2025 This yield guide is for indicative purposes onlyand was prepared on 08 December 2025. Knight Frank Intelligence Click here to view previous data L E A D I N GI N D I C A T O R SInterest Rates: whats next for 2026? As inflation trends lower, markets are increasingly focused on the depth of next year’s rate cuts. Capital Economics expects 25bps cuts from both the BoE and the Fed in December. For 2026, they forecast 3 further BoE cuts, taking the base rate to 3.00% by Q4, while markets anticipate a more modest 50bps of easing and an end-year rate near 3.25%.Global capital steps back into the UK. UK CRE investment remained resilient in 2025, with preliminary YTD volumes at £40.1bn. Full-year totals could finish close to last year. Cross-border capital has been central to activity, supported by renewed interest in core sectors, where volumes are up +3% YTD, largely supported by overseas inflows.From turbulence to calm - geopolitical risk falls back. Geopolitical tensions were a defining headwind in H1 2025, with tariffs and trade disputes weighing on. Since mid-year, however, the backdrop has shifted. The Geopolitical Risk (GPR) Index fell -33% in November to its lowest level since February. For now, lower geopolitical stress supports future cross-border CRE investment. Interest Rates:whatsnext for 2026?As inflation trends lower, markets are increasingly focused onthe depth of next year’s rate cuts. Capital Economics expects 25bps cuts from both the BoE and the Fed inDecember. For 2026, they forecast 3 further BoE cuts, taking the base rate to 3.00% by Q4, while marketsanticipate a more modest 50bps of easing and an end-year rate near 3.25%. Global capital steps back into the UK.UK CRE investment remained resilient in 2025, withpreliminary YTD volumes at £40.1bn. Full-year totals could finish close to last year. Cross-border capitalhas been central to activity, supported by renewed interest in core sectors, where volumes are up +3%YTD, largely supported by overseas inflows. From turbulence to calm-geopolitical risk falls back.Geopolitical tensions were a definingheadwind in H1 2025, with tariffs and trade disputes weighing on. Since mid-year, however, thebackdrop has shifted. The Geopolitical Risk (GPR) Index fell-33% in November to its lowest level sinceFebruary. For now, lower geopolitical stress supports future cross-border CRE investment. E S G A sustainable budget? Key takeaways forenergy & sustainability in real estate Prime Yield Guide–December 2025 This yield guide is for indicative purposes onlyand was prepared on 08 December 2025. Knight Frank Intelligence We like questions. If you would like some property advice , or want more information about our research, we would love to Jeremy Tham Emily Miller Partner–Valuation & Advisory-Head of UK FundValuations+44 20 7861 1483Emily.Miller@KnightFrank.com Partner–Valuation & Advisory-Head of Real EstateFinance Valuations+44 20 7861 1769Jeremy.Tham@KnightFrank.com Simon Gillespie Chris Galloway Partner–Valuation & Advisory-Head of BusinessDevelopment UK Fund Valuations+44 20 7861 1297Chris.Galloway@KnightFrank.com Partner–Valuation & Advisory-Head of Central LondonValuations+44 20 7861 1292Simon.Gillespie@KnightFrank.com UK Real Estate Navigator The UK Real Estate Navigator outlines the key occupier andinvestment trends across the different sectors within commercial realestate. Matthew Dichler Will Matthews Partner–Valuation & Advisory–UK Fund Valuations+44 20 7861 5224Matthew.Dichler@KnightFrank.com Partner–Research-Head of Commercial+44 20 3909 6842William.Matthews@KnightFrank.com K n i g h tF r a n k V & A D i dy o u k n o w In addition to valuing assets in the main property sectors andhaving award winning teams in the Healthcare, Student andAutomotive sectors, Knight Frank also has expertise in : •Waste and Energy•Infrastructure•Garden Centres•Film Studios•Serviced Offices•Data Centres •Life Sciences•Income Strips•Ground Rents•Trading assets•Expert Witness•IPOs Knight Frank Research provides strategic advice, consultancy services and forecasting to a wide range of clients worldwide including developers, investors,funding organisations, corporate institutions and the public sector. All our clients recognise the need for expert independent advice customised to their specificneeds. Important Notice:© Knight Frank LLP 2025. This report is published for general information only and not to be relied uponin any way. Although highstandards have been used in the preparation of the information, analysis, vie