Colliers Publishes Japanese Version of "Global Capital Flows | May 2026"

Colliers International Japan K.K. (Representative: Masahiro Tanigawa, Head Office: Chiyoda-ku, Tokyo, NASDAQ and TSX: CIGI, hereinafter "Colliers Japan"), a major comprehensive real estate consulting service, has published the Japanese version of its latest report, "Global Capital Flows | May 2026," which analyzes global commercial real estate investment and financing trends.

This report is a translation of the English-language report published on May 21, 2026. Based on investment performance in the first quarter of 2026, it organizes investment flows by region and sector, cross-border capital trends, changes in the financing environment, and future macroeconomic and financial outlooks, using Colliers' proprietary analysis and various data.

Global Real Estate Investment in Q1 2026 Robust, with Varying Growth Rates Across Regions
Global real estate investment volume in Q1 2026 maintained a solid momentum despite heightened geopolitical risks and macroeconomic uncertainties, increasing 15% year-on-year. The market is steadily recovering from its trough. The Americas showed the strongest growth at 19% year-on-year, followed by APAC at 15% and EMEA at 14%, with all three regions seeing an increase in investment.

EMEA Maintains Top Spot as Cross-Border Investment Destination, APAC's Presence Grows
EMEA continues to be the most preferred region for cross-border capital investment. Meanwhile, APAC is increasing its presence in the rankings, with Japan and Australia solidifying their positions as investment destinations, and Singapore also ranking in the top 10. As for capital sources, while the United States maintains the top position, Japan's share of capital outflows continues to expand, reaching more than double its five-year average.

Multifamily and Industrial Lead by Sector, Regional Differentiation Progresses
On a trailing 24-month basis, multifamily housing is the largest sector, followed by industrial and office. However, investor preferences are diverging by region, with offices leading in APAC, offices and multifamily in EMEA, and multifamily and industrial in North America.

Industrial Leads Financing, Regional Fragmentation Advances
In Q1 2026 financing, the industrial sector accounted for the highest share, reflecting clear investor preference. Regionally, capital allocation to the Americas has expanded significantly, while the share of multi-regional strategies has declined, indicating a growing trend among investors to prioritize strategies tailored to regional characteristics.

Outlook: Divergent Growth Prospects Across Regions Amid Uncertainty
In the short to medium term, concerns about the economic impact of geopolitical risks persist, and growth prospects vary by region. While the risk of a resurgence in inflation has been noted, its impact on interest rates is expected to be limited. Despite changes in interest rate outlooks, yield spreads over the cost of capital remain at favorable levels.

The full text of the Japanese version of "Global Capital Flows | May 2026" is available at the link below.

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About Colliers

Colliers is a leading diversified professional services company specializing in commercial real estate services, engineering consulting, and investment management, listed on the Nasdaq and Toronto Stock Exchange. Operating in 70 countries worldwide, 24,000 enterprising professionals provide exceptional service and expert advice to clients. Additionally, its experienced management team, which holds company stock, has delivered an annualized compound investment return of approximately 20% to shareholders for about 30 years. Annual revenue reaches $5.5 billion, and assets under management total $108 billion. Colliers is committed to accelerating the success of its clients, investors, and employees. For more details, please visit colliers.com/ja-jp (official Japanese website), X (formerly Twitter) @ColliersJapan, and LinkedIn.

About Colliers Japan

Colliers Japan has over 100 professionals based in Tokyo and Osaka, providing a wide range of advisory services to domestic and international investors, owners, and tenants, including office leasing, industrial leasing, leasing management, capital markets, investment services, project management, design-build, workplace consulting, consulting advisory, real estate appraisal, and hotels & hospitality advisory.

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