January 26, 2026

Active Capital 2026

Knight Frank’s Active Capital Survey 2026 captures the views and investment intentions of 119 of the world’s largest global real estate investors, tracking $144bn of capital.‍

Active Capital 2026

We’re pleased to share the first update from Active Capital 2026 which reveals the capital strategies shaping 2026 from our Global Capital Survey.

Analysing over $1.4tn of global real estate AUM and tracking $144bn of capital ready to be deployed, we are uniquely placed to explore:

  • Where capital is coming from and where it is headed
  • How global allocations are shifting and what this means for investors
  • Target return expectations and the growing role of JVs in investment strategies.

To find out more about where the opportunities lie for 2026, you can read our Ten Takeaways or head to our Active Capital Insights Page.

Key findings:

  • 87% of respondents (by AUM) plan to increase CRE investment.
  • Partnerships will be key with 68% of investors, representing $94bn, considering joint ventures or capital partnering.
  • The UK leads global investor interest, with Germany close behind. Beyond Europe, Australia and Japan are in the top ten.
  • Offices reclaim the top spot for 2026, with 69% of respondents planning to target the sector.
  • Core capital is back with $37bn planned investment targeting the strategy.