The Pension Real Estate Association on Monday released the latest results of its Consensus Forecast survey. The average expected total return for the NCREIF Property index in 2014 is 9.5%, up 80 basis points from the first-quarter survey when the average expected return was 8.7%.
Long-term return expectations also increased, with the average expected annual return between 2014 and 2018 to be 8%, up from 7.5% a quarter ago.
By property type, retail's return expectations grew the most for the current year -- up 2 percentage points to 10.5% in 2014.
Twenty-four investment managers, advisers and researchers of U.S. property markets participated in the survey.
