North America Tops Global Real Estate Returns in 2026

North America Sets the Pace

According to FTSE EPRA Nareit index data reported by Market Commentary Blog, North American real estate has pulled ahead of global competitors in 2026. The sector notched a 17.3% total return year-to-date, eclipsing Developed Europe’s marginal 0.5% gain and Developed Asia’s 4.0% decline. With robust performance in key sectors, North America continues to anchor global listed real estate results through the mid-year mark.

For a sense of the broader global context, the FTSE EPRA Nareit Developed Index overall is up 10.2% in 2026, while the FTSE Global All Cap has gained 11.4% for the year. Lingering geopolitical uncertainty remains a headwind, as some global equity indices posted narrow declines in June, contrasting with the resilience seen in North American REITs.

Data Centers and Lodging Dominate

Sector leadership is clear across markets, with North America’s data centers delivering a standout 33.2% total return in 2026. Lodging/resorts have surged even further, leading all North American property types with a 42.5% return. Health care REITs also showed strength at 19.0% year-to-date. By comparison, Developed Europe’s top sector was retail (9.5%), and only data centers in Developed Asia produced double-digit growth, up 12.0% so far this year. Self-storage remains narrowly positive in Asia at 0.6%.

Global Indexes Reflect Divergence

While the FTSE EPRA Nareit Developed Extended Index was flat in June, it holds an 8.9% gain for 2026, and the FTSE EPRA Nareit Developed Index is up 10.2% year-to-date. Against this, the FTSE Global All Cap—a proxy for all listed equities—has risen 11.4% for the year but posted a decline of 0.9% in June. The monthly disconnect highlights real estate’s unique sector and regional divergences. North America’s property market continues to defy volatility, while Europe and Asia remain relatively flat or negative on the year, with sector-specific pockets of growth.

Why It Matters

For CRE professionals, the data signals a defining trend: North America’s listed real estate is delivering the world’s strongest sector returns in 2026. The especially strong showing by data centers and lodging comes as digital infrastructure and hospitality revive post-pandemic, setting the tone for capital allocation and sector strategies. With data centers up 31.6% globally, per FTSE EPRA Nareit, and North American lodging up 42.5%, investors are following shifting demand toward technology and travel-related assets. Conversely, lackluster performance in European and Asian markets underscores ongoing caution around geo-economic risk and sectoral overhangs. The divergence underlines the need for asset class and regional selectivity in current portfolio strategies. In an environment overshadowed by macro uncertainty, North America’s CRE outperformance could attract further global capital and reshape allocation models for the balance of the year.

What’s Next

Looking ahead, volatility could persist as geopolitical tensions and monetary policy developments create crosswinds for global equities and CRE alike. Sector winners—particularly data centers and lodging—may continue to draw outsized capital if current trends hold. Market watchers will be parsing mid-year earnings for signs of whether North American outperformance is sustainable, or if normalization will bring other regions back into balance for 2026. CRE professionals should keep a close watch on sector-level fundamentals and global flows as the year’s second half unfolds.