In England, preparations are underway to implement the „Renters’ Rights Act 2025”, the most significant reform of the private rental market in decades. The UK Government and Parliament have announced[2] that key provisions—including the abolition of Assured Shorthold Tenancy agreements, transition to indefinite assured periodic tenancies, banning eviction without cause, and strict rent increase rules—will take effect on May 1, 2026. The Act raises the threshold for mandatory eviction due to rent arrears[5] from 2 to 3 months, extends the notice period 4 weeks, and introduces maximum administrative penalties of up to £40,000** for selected violations. Tenants will gain the right to challenge rent increases before the First-tier Tribunal, while owners of PRS, BTR, and PBSA portfolios as well as banks will need to revise their valuation models and tenant turnover assumptions.
Revolution in the UK PRS
In the United States, The House of Representatives approved the „Housing for the 21st Century Act”[12] by a vote of 390 to 9, ultimately abandoning the White House’s previously proposed ban on purchases of single-family homes by large institutional investors. Meanwhile, market data shows that the share of investors acquiring at least 11 properties remained at 6.6% of all residential transactions in 2025, with cash purchases reaching 39.1%. The backdrop remains a high cost of debt: in the USA the average 30-year mortgage rate according to Freddie Mac was 6.09%[14] (February 12, 2026), and a podcast indicates the yield on 10-year US Treasury bonds[13] is about 4.26%, alongside a maturity wall of approximately $875 billion in commercial real estate-secured debt in 2026. A prominent example of refinancing difficulties is the „The National” project in Dallas[19] valued at about $460 million, taken over through foreclosure by Starwood Property Trust after occupancy rates fell and interest costs rose.
American Regulations and Debt Cost Pressure
In Canada, RBC Economics forecasts an overnight rate maintained at 2.25%[63] in 2026, rising to 3.25% by the end of 2027, fitting the „higher for longer” scenario for financing development projects and PRS portfolios. Simultaneously, clear transactional benchmarks have emerged in developed markets. In Ireland, Palm Logistics is developing Momentum Logistics Park in Naas near the M7 motorway[16], delivering four new warehouses totaling 11,334 m², with permits secured for an additional 37,161 m² of high warehouses and plans for another 18,581 m² in 2026. The entire regeneration program, covering about 250 acres of land and featuring ESG-compliant infrastructure aligned with EU Taxonomy and LEED Gold standards, is valued at approximately €100 million.
New Benchmarks in Logistics and Offices
In the Australian market, the Development. Ready platform has recorded a series of large commercial transactions setting new price levels and capitalization rates. In Geelong, the Corio logistics park with 12 facilities[18] covering 22,577 m² was sold for over AUD 60 million, with rents reaching AUD 180/m² annually and the last module (1,749 m²) sold for AUD 4.2 million. In Box Hill, the 128-room Trio Hotel Box Hill changed owners for AUD 30.7 million, while in Perth, an office building at 223 James Street of 1,440 m² was 8 million at a capitalization rate of 3.63%, generating annual income of AUD 291,704 from the public tenant North Metropolitan Health Service. In the USA, JLL Capital Markets launched the sale process of the trophy Cencora HQ[20] @ SORA West in Conshohocken – a Class A building with 429,122 sq ft (about 39,870 m²) fully leased to Cencora with an approximate remaining lease term of 10 years**, which will be an important benchmark for single-tenant offices with long WAULT.
Polish Housing Market after Size Changes
In New York, the city’s Independent Budget Office signed a 21-year lease for 18,765 sq ft[23] (about 1,743 m²) at One Battery Park Plaza, more than doubling their occupied space. This lease is part of a broader pipeline of major office transactions, including the expansion of law firm Linklaters by 48,000 sq ft at 1290 Avenue of the Americas and the growth of coworking operators. CBRE data indicate that the average asking rent in Lower Manhattan was[32] $58.40 per square foot annually in Q4 2025, confirming the concentration of demand in premium CBD spaces and the „flight to quality” trend.
On the Polish housing market, the Ongeo.pl portal draws attention to the combination of high but stabilizing prices[26] and rules for calculating usable floor area that exclude partition walls from the total floor space which forms the basis for housing price calculations. With average offering prices around PLN 18,500/m² in Warsaw, 17,700 in Tricity, 16,700 in Krakow, 15,200 PLN/m² in Wrocław, 13,500 in Poznań, 11,500 in Łódź, and 11,400 in the Upper Silesian Industrial Region, this change may mean savings of tens of thousands of zlotys for buyers on housing units. sales of apartments dropped by about 10% compared to December[29], with ready apartments comprising about 20% of the offer. At the same time, developers’ sentiment in Poland is improving – the Sales Pace Change subindex in the Developer Sentiment Index from Tabelaofert.pl reached 0.52 in January – and the Management Board of Municipal Rental Resources in Poznań auctioned 14[27] municipal commercial units, including a 300 m² space at Plac Wielkopolski and several units ranging from about 33 to 100 m² in key downtown locations.
Sources
Related posts:
- US Tariffs, Major Deals in Warsaw, and a Record Year for PRS – a Week That Changes the Market
- Global Signals for Real Estate: Stable Eurozone Rates, US CRE Pressure, Growing Role of Energy
- Real Estate Market March 24–31, 2026: Polish PRS, US CMBS, and Capital Return to CEE
- Offices Under Pressure, Warehouses and PRS Benefit: Key Real Estate Trends 2025–2026