JLL Launches $9 Trillion Property Liquidity Indices as Global Credit Competition Hits Record High
Updated
Updated · PR Newswire · Jun 9
JLL Launches $9 Trillion Property Liquidity Indices as Global Credit Competition Hits Record High
3 articles · Updated · PR Newswire · Jun 9
Summary
April 2026 credit competition reached an all-time high in JLL's new Global Credit Intensity Index, which points to a fresh commercial real estate liquidity cycle.
Nearly $9 trillion of sales bids and loan quotes underpin the new credit and bid indices, with a refinancing wave and large loan placements driving lender participation and looser winning loan-to-value terms.
Investor bidding also improved over the past year in JLL's Global Bid Intensity Index, though pricing competitiveness still remains well below 2021 peaks.
The global bid-ask spread has narrowed significantly since the 2023 trough, even as gaps persist in sectors such as U.S. multifamily where rent growth has been softer.
Since early 2025, credit markets have outpaced investment sales activity; JLL says successful refinancing and steadier pricing could support a broader acquisition rebound in the second half of 2026.