January 1, 2026
GPR Market Update December 2025
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GPR 250 Index advances 11.6% in 2025
2025 returns show benefits of diversification
The listed real estate sector rose 11.6% in the 2025 calendar year despite a 1.8% loss in December 2025. During the last five- and ten-year periods, the Americas continent of the GPR 250 Index meaningfully outperformed other continents. Yet 2025 provided a powerful reminder of the benefits of global diversification, as the tables turned and Asia (32.1%), Africa (29.6%), Oceania (23.6%) and Europe (7.8%) outperformed the Americas amid currency shifts and policy uncertainty. The gap versus general equities further widened (18.9% versus 11.6%) in 2025.
| GPR 250 Index | EUR | LOC | USD |
|---|---|---|---|
| Africa | 30.1% | 29.6% | 47.6% |
| Americas | -5.8% | 6.5% | 6.8% |
| Asia | 17.9% | 32.1% | 33.7% |
| Europe | 7.1% | 7.8% | 21.4% |
| Oceania | 17.4% | 23.6% | 33.1% |
| World | 0.4% | 11.6% | 13.9% |
Healthcare sector retains top spot (36.4%)
Except for Residential (-6.4%), the GPR 250 Index sectors posted gains; as was the case in 2024, Healthcare (36.4%) performed best.
| GPR 250 Index | EUR | LOC | USD |
|---|---|---|---|
| Diversified | 16.7% | 26.3% | 32.3% |
| Healthcare | 21.0% | 36.4% | 37.3% |
| Hotel | -9.3% | 2.3% | 2.9% |
| Industrial | -3.9% | 7.5% | 9.0% |
| Office | -3.1% | 6.8% | 9.9% |
| Other | -9.6% | 2.5% | 2.5% |
| Residential | -15.6% | -6.4% | -4.3% |
| Retail | 0.6% | 11.5% | 14.0 |