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Capital on the move – H1 2025 23 sep

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8 min read

While investment volumes remain subdued, we’re seeing a promising rebound in global real estate fundraising during Q2 2025.
While investment volumes remain subdued While investment volumes remain subdued While investment volumes remain subdued Related Insights

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Top Highlights

Global real estate fundraising continued to rebound during 2025 Q2. Investors are mostly backing high-risk and improvement-focused strategies, while interest in debt is growing and safer, long-term plays are still slow.
Multifamily remains the most active investment sector globally.
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Global Capital Sources & Destinations

Global real estate fundraising continued to rebound during 2025 Q2, taking the H1 total to $111 billion - this puts it at 85% of the total for 2024. Despite evidence of an increase in market activity, this is yet to fully translate into transaction volumes - with global activity largely on par with that of 2024. Year-to-date has improved by 7% in North America, and 5% in APAC, but no significant changes in EMEA. Overall, activity continues to sit at the bottom of the five-year range in all regions.

Click on the interactive maps below to see the top Global Capital Sources and Destinations for the past 12 months.





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Global Investment by Sector

Multifamily has maintained its active presence ahead of all other sectors, seeing a slight increase in activity on a 24-month rolling basis, as of the end of H1 2025. Office investment has picked up on a global basis, and has seen much stronger levels of activity in APAC and EMEA. 

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Authors

David Amsterdam | Colliers | New York

David Amsterdam

President, Capital Markets | U.S.

New York Tri-State Region

Chet Barney | Colliers | Oakland

Chet Barney

Senior Vice President

San Francisco Bay Area

Don Jenkins | Colliers | Chicago - Downtown

Don Jenkins

Senior Director, Project Management

Chicago

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