1. UK: Office repurposing drives revolution on the ground
The redevelopment of offices for alternative uses has been arguably the most far-reaching and visible change to the United Kingdom’s real estate in the past decade. The COVID-19 pandemic and working from home jet-propelled what became a global trend, with U.K. offices becoming homes, hotels, shops, labs, sports centers and even wedding venues.
Driven by an ongoing crisis in providing homes for a fast-growing population alongside seismic changes in demand, swathes of offices have been turned into something else. All of this has been encouraged by two factors in particular, a radical loosening of government restrictions on redevelopment, and more recently, tumbling values for offices.
2. Curacao: Caribbean seen primed for branded luxury residences
For the most part, luxury hoteliers in the Caribbean region won’t be talking about new developments without mentioning residential opportunities in the same breath.
According to panelists at a Caribbean hotel investment conference in Willemstad, Curacao, providing branded residences is a win-win scenario for owners who can see a faster return on investment with buyers coming in on the rental units. Additionally, those units get to be used as rental inventory, another perk of the arrangement.
3. France: BNP Paribas buys stake in large healthcare portfolio
Paris-based BNP Paribas REIM acquired a majority stake in a portfolio of healthcare assets in Italy that are valued at over €300 million, seeking to capitalize on expected increased demand for medical real estate.
The company carried out the transaction on behalf of its Healthcare Property Fund Europe, which now holds one of Italy’s largest healthcare real estate portfolios, with more than 3,300 beds. “This transaction also confirms, despite the general slowdown in the real estate market in recent years, BNP Paribas REIM’s long-term belief in the healthcare sector as a resilient asset class, driven by strong demographic drivers,” said Paul Darribère, the company’s global head of healthcare and hospitality.
4. Germany: Prime office rent growth could slow
Prime-location office rents in Frankfurt, Hamburg, and Munich will continue to rise in 2026, though price growth could slow down, according to the latest office market forecast by German real estate research groups GIF and the Center for Real Estate Studies.
While this year’s increase was 2.5% in Düsseldorf and 5% in Frankfurt and Munich, prime rents in most markets may only rise by up to 2% in 2026, researchers said. Average office rents are likely to come under significantly greater pressure due to rising vacancy rates.
5. Canada: Development fees cited as significant cost for builders
Some developers are saying municipal development charges have put a stick in the spokes of their real estate projects in Canada, just as Ottawa pushes for a surge in construction, and a new federal research study shows how such fees can vary widely across the country.
The fees developers pay when building new projects are levied by municipalities to fund infrastructure for new projects such as new roads, transit and other growth-related infrastructure. They have become a significant cost for developers and buyers in some jurisdictions, according to a report from the Canada Mortgage and Housing Corp.
6. US: Architect Gehry remembered for buildings that 'elevated the human spirit’
Architect Frank Gehry is remembered for an ability that won him worldwide acclaim for designing buildings that appear to defy gravity, with extreme curves and walls so steeply angled they seem to be falling over.
Decades after the Toronto-born Gehry gained name recognition well beyond architectural circles, he remained active in his Los Angeles-based firm, Gehry Partners, until his death at age 96 on Dec. 5. “He was not only a highly original architect and form-maker of the highest order but also a humanist, creating buildings and urban places that both supported day-to-day life but also elevated the human spirit,” Larry Richards, a professor of architecture at the University of Toronto, told CoStar News.
This report was compiled from CoStar’s news publications in the United States, United Kingdom, Canada, France and Germany.