Capital is not simply moving into real estate again; it is moving sideways - across sectors, strategies and operating models in search of the combination of income resilience, structural demand and risk-adjusted returns that increasingly defines investment decisions.

Historically, highest and best use was closely associated with maximising economic return. In practical terms, this often meant identifying the development typology capable of generating the highest land value or rental yield.

In real estate, inaction is rarely neutral. Choosing to “wait and see” can feel prudent - particularly in uncertain or volatile markets - but indecision often carries hidden costs that quietly erode value over time.