2026年英国医疗地产市场情绪调查报告

UK HealthcareSentiment Survey2026 CBRE RESEARCH REPORT Introduction The CBRE UK Healthcare Sentiment Survey 2026 asked 298 respondents,which included investors (72), developers (50), and providers (176) for theirinsights into the healthcare market. Their responses provide a comprehensiveview of the current sentiment, emerging opportunities, and pressures shapingthe sector. The survey was carried out by Censuswide between December-January 2026, with the analysed results published in March 2026. Note, someof the totals may not total 100% due to rounding. Our survey explores: –Key areas of demand across the respondent groups–Healthcare market participants’ strategies and appetite for growth–Healthcare investment trends in comparison to the wider market–Expectations around performance in the elderly care and private healthcare markets,and how these align with investment and development activity–The outlook for healthcare investment and development activity and key opportunitiesin 2026 01Key findings Sentiment across the healthcare real estate market continues to strengthen, with 68% of investorssurveyed reporting they had increased their allocation to healthcare in 2025. Positive momentum isexpected to continue throughout 2026 as a widening pool of real estate investors plan to expand theirhealthcare allocations. Elderly care remains a key target for investors, with further consolidation expected throughout the year,set against a backdrop of abundant capital competing for a tightening supply of purpose-built stock.Growing demand across the private health sector is also sharpening investor focus on private acutehospitals, with one-third of investors reporting that they are targeting this subsector.02 Greater use of sophisticated capital structures is reshaping investment into the healthcare sector.Strategic partnerships, joint ventures, and the growing role of infrastructure capital are providingclearer pathways for investors to scale. Deeper operational understanding is essential to align capitalwith operating needs and strengthen asset performance.03 01 Investor Survey Investor activity remains concentratedin elderly care Investment activity in 2025 was shaped by a combination oflarge-scale platform acquisitions, led by US REITs, and mid-markettransactions. Over £10bn was invested in elderly care homes in2025, accounting for 79% of total healthcare investment. Given thecontinued fragmentation of the provider landscape, consolidationmomentum is expected to continue throughout 2026. Whilespecialist healthcare investors remain focused on the elderlycare sector, general investors are diversifying their allocations,with a focus on private acute hospitals and primary care. The private hospital landscape is evolving, driven by rising PMI-funded activity,which grew 6% across the UK in 2024, and abroader shift from traditional inpatient care towards day case andoutpatient models. The market has seen exponential growth inclinics providing services such as ophthalmology, orthopaedics,and women’s fertility. Demand in these speciality services alsoclosely mirror extended NHS waiting times. The NHS has also become an increasing contributor for privateacute care.Its funding share rose from 10% in 2003 to 31% in 2024,reinforcing opportunities for private providers to support thesystem through outsourced diagnostic and elective services,underpinning investor confidence. Another subsector attracting growing investor interest is primarycare. Confidence in the market has been strengthened by the 2025PHP and Assura merger that formed the UK’s largest primary carereal estate platform. With government-backed, RPI-linked incomestreams, durable cash flows, and a clear role as essential socialinfrastructure, the sector increasingly appeals toinfrastructure-focused capital. Momentum builds as the sector edgestowards mainstream status Sentiment across the healthcare real estate market continued tostrengthen last year, supported by a record year of transactionactivity. In 2025, 68% of investors increased their allocation to thesector. While proposed allocations for 2026 have eased slightly to65%, momentum and investor confidence remain robust. Notably,39% of investors plan to increase their healthcare allocation bymore than 11%. CBRE’sEuropean Investor Intentions Survey 2026positions thewider Living sector as investors’ preferred asset class. In the UKhowever,healthcare led investor activity in 2025, with £12.9bntransacted, surpassing both Living (£12.0bn) and Offices (£10.4bn).This shift naturally sparks a broader consideration:Is healthcareevolving from a specialist niche into a mainstream asset class? Once dominated solely by specialist investors, the sector is movingto one that is increasingly attracting a broader pool of capital as itsoperational models standardise and regulatory frameworks becomebetter understood. Although not yet fully a mainstream allocation,healthcare is edging closer. The dynamics are now in