The Wealth Report 2026 

Knight Frank’s landmark 20^th edition of The Wealth Report identifies a clear turning point for global commercial real estate (CRE) as $144 billion of institutional capital prepares to re-enter the market in 2026.

Investors including high net worth individuals and family offices have now been the largest buyers of global CRE for four consecutive years.

CRE investor activity in Ireland largely reflects this global trend, with total investor spend in the last 3-5 years split almost evenly between institutional investors and private equity. This compares to ten years ago when institutional investors made up closer to 70% of total investment spend.

Knight Frank’s data shows capital is moving on fundamentals, rather than headlines, despite current geopolitical risk and policy uncertainty. Private capital’s advantage is becoming more pronounced. Speed of execution, flexible capital structures and a higher tolerance for risk are allowing it to transact earlier in the cycle and hold through volatility.

Key Trends:

• Office recovery driven by occupier demand, not sentiment
• Retail rebound highlights mispriced sectors
• Big-ticket European deals signal return of conviction
• Capital set to follow fundamentals, not sentiment

The report concludes that 2026 will favour investors focused on pricing, income and supply rather than short-term volatility. Markets such as Ireland, the UK and other European countries continue to attract strong interest despite negative sentiment, underlining the disconnect between perception and capital allocation.

Joan Henry
Chief Economist & Director, Research
Knight Frank Ireland