Commercial Property Price Index Report Q3 2025

This report is a detailed analysis of the RCA Commercial Property Price Index (CPPI) for the third quarter of 2025. It documents the changes in commercial property prices across various sectors, noting a 2.6% increase in the US National All-Property Index compared to the previous year. The report outlines that retail property prices rose by 5.5% year-over-year, marking 17 consecutive months of increases. Industrial property prices also saw a 4.0% rise, while CBD and suburban office prices increased by 5.1% and 4.5%, respectively. Conversely, apartment prices experienced a decline of 0.8%. The report highlights investor sentiment as cautiously optimistic, with a noted increase in investment activity. It discusses expectations for Federal Reserve rate cuts, which may influence future market conditions. The RCA CPPI methodology, based on repeat-sales transactions, is explained, along with the significance of the indexes in measuring price movements in commercial real estate across various markets.