Part of the market where we have held the strongest conviction over the past decade is providing nearly £1.5 billion of senior investment and development finance, primarily in the PBSA and Build-to-Rent sectors. Encouragingly, our poll of 50 global institutional investors reveals that the prospects for the next decade remain very strong, despite the ongoing macroeconomic volatility and the lingering influence of the Covid-19 pandemic.

Perhaps the biggest question is whether investors will be able to execute on their intentions. In the face of the most restrictive financing backdrop since 2013, our report shows that investors are having to rethink their funding approach. And, unlike other commercial real estate (CRE) sectors, respondents believe that yields have remained, and look set to remain, relatively tight, creating additional challenges.