Active Capital
Archive
2025
Active Capital
Active Capital: International Capital Steps Forward
As domestic investors exercise caution, international capital is pushing ahead to diversify risk and find early cycle opportunities.
16 October 2025
Active Capital
Active Capital: Trends Shaping Global Cross-Border Investment in 2025
Global cross-border capital flows showed resilience in H1 2025, with Q1 up 6% YoY and Q2 around 8% higher, despite market volatility. Investors are navigating a highly nuanced landscape, favouring safe-haven and high-potential sectors like logistics, innovation-driven assets, and well-located offices. Our latest insights explore the trends shaping Q4 2025.
26 September 2025
Active Capital
Active Capital 2025: Noise, nuance and opportunity
Start of year momentum in cross-border real estate investment has met with geopolitical uncertainty and diverging regional dynamics. In this environment, understanding market, sector and asset-level nuances is more critical than ever to identify opportunities. Early indicators suggest renewing appetite for core strategies.
02 July 2025
2024
Active Capital
Navigating Headwinds: Europe’s Investment Opportunities in 2024
Despite headwinds, Europe stands as the largest destination for global cross-border capital in the first half of 2024. Private capital emerged as a crucial driver while the logistics and residential sectors remain prime targets for investors. The start of easing monetary policy provides a more conducive investment environment, making Europe well-positioned as a destination for cross-border capital.
23 September 2024
Active Capital
How do US investor trends pave the way for global real estate market recovery?
With US capital a significant source of global cross-border investment and core indicator of commercial real estate trends, our Capital Gravity model reveals US outbound capital flow forecasts into 18 key locations across the globe.
22 April 2024
Active Capital
Transforming Real Estate Insights: The Role of Data Science in Forecasting Capital Flows
Our latest Active Capital update shares our investment predictions to help you navigate the real estate market, but how do we generate the data? We speak to Dr James Culley, Head of Data Science, to learn about the role of AI and machine learning in formulating our Capital Gravity model forecasts.
21 April 2024
Active Capital
What are the capital trends shaping commercial real estate?
Our Knight Frank Active Capital research forecasts global cross-border capital flows across key sector and investor types, tracking opportunities for 2024.
25 March 2024
Active Capital
Active Capital 2024 forecasts: 60 second summary
A snapshot of the forecasts and forces shaping the global real estate investment landscape.
25 March 2024
2023
Active Capital
The lay of the macroeconomic landscape across Europe and investment opportunities for 2024
As we remain in a period of price discovery with large variances in the behaviour and speed of price correction, twinned with variation in inflation and GDP forecasts, we explore the current situation and how the market may unfold over 2024.
21 December 2023
Investment
Equity capital is active and ready to invest: Three questions with Josephine Jones
We hear the expert opinion of Josephine Jones, Head of Strategic Capital, on the evolving lending equity landscape and the rise of non-bank lenders.
06 December 2023
Energy & Sustainability
ESG strategies differ among investor types
Here we delve deeper into the results of our ESG Property Investor Survey and analyse nuances among investor types and focus.
01 November 2023
Active Capital
Macroeconomic headwinds prevail, but is there light at the end of the tunnel?
One year following our outlook for 2023, it might seem that everything – and yet nothing has changed.
27 September 2023
Active Capital
Active Capital Q4 Outlook: opportunities and trends for global real estate investment
Despite tightening credit conditions, investor opportunities are available in a number of real estate sectors across the globe.
27 September 2023
Active Capital
Active Capital Videos & Webinars
The latest discussions and insights from our Global Capital Markets team, providing expert advice on global cross border capital flows and opportunities in the Living Sectors.
08 August 2023
Active Capital
The Living Sectors polls: sub-sector targeting and propositions
During our recent webinar, we asked the questions: “What are the top 3 sub-sectors within the Living Sectors that you are targeting over the next 18 months?” and “Which of the following investment propositions are you currently targeting for Living assets?” Here we share our analysis of the results.
16 June 2023
Active Capital
The global ‘renter revolution’
We hear from James Mannix, Head of Global Living Sectors at Knight Frank, about the growing global trends within the sectors.
16 June 2023
Active Capital
Living Sectors Q&A: trends and forecast in the United States
James Mannix, Head of Residential Development and Investment, talks to Ernie Katai, EVP, Head of Production at Berkadia about the Living Sectors investment market in the United States
15 June 2023
Active Capital
Real estate funding in 2023
Equity and debt markets are getting tighter, but remain open for the right assets. And as with all times of disruption, there are also opportunities.
26 January 2023
Active Capital
Innovating resilience and investing in ESG in a changing world
Even in today’s tougher economic times, ESG will remain a priority. Pressure from lenders is a big factor.
26 January 2023
Active Capital
What has the Global Financial Crisis taught us about future investment?
A retrospective examination could indicate what the coming months have in store.
26 January 2023
Active Capital
Regional outlooks: real estate capital flows in 2023
We analyse the effects of the current market volatility on capital flows, region by region.
26 January 2023
Active Capital
Real estate investment in 2023: predictions, commentary and methodology
We predict that cross-border flows in 2023 will moderate, returning to the levels seen in the mid-2010s.
26 January 2023
Active Capital
An era in which smart investing in real estate matters more
Real estate performance is expected to polarise. In the volatile macro environment, the right real estate may offer through-cycle diversification benefits and favourable risk-adjusted returns. The focus will be on high quality, ESG-focused assets in liquid locations.
26 January 2023
Active Capital
Forecasting global cross-border capital flows
The Capital Gravity model forms a cornerstone of our Active Capital research. Now in its sixth year, we’ve employed the latest machine learning and regression techniques alongside unique datasets to predict where real estate capital will flow in 2023 and beyond.
26 January 2023
2022
Active Capital
An introduction to Active Capital: real estate strategies for volatile times
Welcome to Active Capital, our unique research perspective on the global real estate investment outlook. From forecasts of capital flows to our analysis of the most pressing strategic considerations, including debt and ESG, this research is designed to help guide you through the complexities, challenges and opportunities that lie ahead, an essential companion to fully understand the myriad forces at play.
26 October 2022
Active Capital
ESG in real estate: Roots in the Sky - Fabrix case study
Roots in the Sky is the transformation of a 1960s building on the Southbank in London, United Kingdom – the old Blackfriars Crown Court – into a 430,000 sqft, highly sustainable, next-gen, HQ office building and the UK's first rooftop urban forest.
26 October 2022
Active Capital
ESG: an opportunity to embed value in commercial real estate
ESG isn’t a cost, it’s an opportunity to embed value, says Debbie Whitfield, Impact Director at investor and developer, Fabrix and guest Active Capital contributor.
26 October 2022
Active Capital
Looking forward at lending: an interview with Lisa Attenborough
We hear the expert opinion of Lisa Attenborough, Head of Debt Advisory at Knight Frank, on the changing economic landscape and how it will impact lending within commercial real estate.
26 October 2022
Active Capital
Equity investors become more vigilant on downside risk: an interview with Emma Winning
We hear the expert opinion from Emma Winning, Partner at Knight Frank Capital Advisory, on how investors can protect their investments and the trends we expect to see for 2023.
26 October 2022
Active Capital
Active Capital: 60 seconds overview
A snapshot of the forces that are shaking and shaping the global real estate investment landscape.
26 October 2022
Active Capital
ESG in real estate: Atelier Gardens - Fabrix case study
One of the oldest film studios in Europe, Atelier Gardens, Berlin, is being transformed into a campus where flexible work and event spaces connect to nature and the community - a cross-disciplinary home for pioneers of change.
25 October 2022
2021
Active Capital
Executive summary: the sustainable acceleration
Active Capital is our flagship Global Capital Markets report. It offers a unique perspective on the outlook for global real estate investment. Here is the executive summary of this year's report.
23 November 2021
Active Capital
The sustainable recovery
This year, ESG is central to our Active Capital research, with a particular focus on sustainability.
22 November 2021
Active Capital
The global rise of sustainable finance
A year on since we highlighted the rise of sustainable financing as a fundamental driver of investment resilience, sustainable lending has continued to develop at pace across the globe.
22 November 2021
Active Capital
The search for sustainably led cities
Investors are increasingly mindful of ESG considerations, whether at an individual building, portfolio, or corporate level. This is the result of both a rapid uptick in the benchmarking of ESG metrics and a desire to mitigate exposure to climate risk.
22 November 2021
Active Capital
How does ESG impact corporate performance?
Our research highlights governance, including diversity of decision making, as a significant driver of operating profit margins for global listed real estate firms. Lower energy use and environmental partnerships also positively impact performance.
22 November 2021
Active Capital
Forecasting global cross-border capital flows
Our Capital Gravity model forms one of the cornerstones of our Active Capital research. Now in its sixth year, we have used the latest machine learning techniques and unique datasets to predict where real estate capital will flow in 2022 and beyond.
22 November 2021
Active Capital
Debt; the challenge for banks
This article originally featured in Active Capital 2019.The GFC and changes to regulatory capital rules created headwinds for banks' lending ability. We explore these challenges for banks in more detail.
15 October 2021
Active Capital
Increasingly OpCo: From asset ownership to service provision
This article originally featured in Active Capital 2019.Space as a service in the office sector is driving demand for service provision creating new challenges and opportunities for the investor.
15 October 2021
Active Capital
Theme 3: Reinvention
This article originally featured in Active Capital 2019.
15 October 2021
Active Capital
Reinventing retail. Case study: Westside Pavilion Mall, LA
This article originally featured in Active Capital 2019.We look at the case study of Westside Pavilion Mall in the US which is being transformed into a new office campus.
15 October 2021
Active Capital
Changing capital allocations. Case study: Pension Funds
This article originally featured in Active Capital 2019.
15 October 2021
Active Capital
Changing capital allocations. Case Study: Private Equity
This article originally featured in Active Capital 2019.Using a Black Litterman portfolio optimisation model we simulate future optimal CRE allocations for private equity fund global commercial real estate portfolios. We predict a rotation towards specialist sectors and industrials by 2023
15 October 2021
Active Capital
Theme 2: Capital Gravity
This article originally featured in Active Capital 2019.
15 October 2021
Active Capital
Capital Flows: Outlook 2019
This article originally featured in Active Capital 2019. GDP growth is slowing. Interest rates are near record lows. In a late-cycle environment, these factors are driving ever-greater cross-border capital flows, both to diversify risk and chase enhanced returns. We analyse the likely sources and destinations of capital over the coming year.
15 October 2021
Active Capital
Where next for private equity?
This article originally featured in Active Capital 2019.Private equity can often be seen as a leading indicator for future capital flows. We look at where private equity could be targeting over the coming year.
15 October 2021
Active Capital
Theme 5: All change. The value of digital connectivity
This article originally featured in Active Capital 2019.
15 October 2021
Active Capital
Theme 4: NOwnership
This article originally featured in Active Capital 2019.
15 October 2021
Active Capital
Valuing space as a service; our view
This article originally featured in Active Capital 2019.The continuing trend of space as a service in the office sector presents unique considerations in terms of valuation.
15 October 2021
Active Capital
Positioning investment in a lower for longer environment
This article originally featured in Active Capital 2019.Real estate investors should strategise appropriately in a lower for longer, late cycle environment. We explore some of options available to real estate investors
15 October 2021
Active Capital
Late cycle for longer?
This article originally featured in Active Capital 2019.Major economies are experiencing prolonged economic cycles. Is another global recession on the horizon? Read our take on this evolving environment for global real estate investment.
15 October 2021
Active Capital
Madrid: Fringe as the new core
This article originally featured in Active Capital 2019.Pricing and availability constraints in the CBD are pushing investors to investigate new emerging-core locations in the capital of Spain.
15 October 2021
Active Capital
Reinventing fringe as the new core. Case study: Paris
This article originally featured in Active Capital 2019.Pricing and supply across central business districts are pushing investors towards fringe-of-core.
15 October 2021
Active Capital
Theme 1: Extra Time
This article originally featured in Active Capital 2019, under the theme of 'Extra Time: late cycle for longer?' Andrew Sim, Head of Global Capital Markets & MD, Europe introduces the overarching theme of Active Capital 2019: Extra Time.
15 October 2021
Active Capital
Why now is a good time to invest in real estate; the fund management view
This article originally featured in Active Capital 2019.Tom Bill, Head of London Residential Research talks with a number of funds to gauge their view on the market and the evolving role of real estate
15 October 2021
