In the Global chapter of ISA Outlook 2025, we look at how to make the most of this new dawn and the opportunities it may present, but with a watchful eye on ways the new day could go off track. We examine these through four broad themes in this year’s report: the morning sky, the capital stack hangover, the breakfast menu, and the early bird.

In this podcast, Brian Klinksiek (Global Head of Research and Strategy) and Eduardo Gorab (Managing Director, Global Research and Strategy) examine each of these concepts in turn, and ask what each means for real estate and they intersect with one another and other key trends.