Careers in Real Estate- Rethinking your Strategy.

The UK property sector is living through one of its most testing moments in recent memory. Investment volumes in the first half of 2025 were down by almost a fifth compared with last year, according to CBRE, as expensive debt and geopolitical uncertainty tempered appetite. Even where values are firming — Canary Wharf offices, for example, rose slightly in the second quarter for the first time in three years — the recovery is uneven. Vacancy rates tell a similar story: industrial remains resilient at just under seven per cent, while office vacancy is close to twenty per cent.

In this climate, career management for senior professionals takes on a different character. The path that once seemed straightforward — progression within a firm, perhaps with the occasional strategic move — has become narrower. Many executives are asking themselves how best to remain relevant, how to continue adding value, and how to think about their futures when the market itself is offering fewer opportunities.

This is where reframing becomes essential. Organisational psychologist Benjamin Hardy’s work provides a useful lens. His argument in 10x Is Easier Than 2x is that aiming for modest improvement keeps us tethered to familiar habits. By contrast, setting more ambitious goals forces us to rethink what is truly worth our energy and what must be discarded. In career terms, the question is whether the next incremental promotion is really the best measure of progress. For some, the answer may be no.

A London-based investment specialist who has spent two decades in the office market might reasonably conclude that the near-term upside in that segment is limited. Recasting their expertise towards life sciences in the Oxford–Cambridge corridor could offer not just a shift but a transformation. Likewise, a development director focused on retail parks may find greater scope in logistics, where occupier demand has been reshaping the Midlands. In each case, the “10x” path is not simply a bigger version of the old one, but something qualitatively different.

Hardy’s other framework, Who Not How, is equally resonant. Progress in constrained markets often depends less on what one can do alone, and more on with whom one chooses to align. Many of the most significant opportunities in the UK today are collaborative by nature: institutional investors seeking partners to deliver carbon-neutral retrofits; local authorities leading regeneration schemes across northern cities; growth in build-to-rent, retirement living, and student accommodation platforms where operational expertise is as important as development skills. In each case, the right relationships matter more than personal effort in isolation.

This is not to say that individual capability is unimportant. Quite the opposite: there are areas where demand for skills remains strong despite the slowdown. ESG is now embedded in investment decisions, with tightening regulation around energy performance and institutional investors pressing for credible net-zero pathways. Technology adoption is also gathering pace, whether in the form of smart building systems, data analytics, or AI-driven forecasting. Executives who can lead on these fronts, and communicate their implications clearly to boards and capital partners, will continue to be in demand.

Diversification is another theme worth considering. Just as investors avoid placing all their capital in one asset, senior professionals are increasingly spreading their exposure. Some combine part-time executive roles with non-executive directorships. Others step into adjacent sectors such as infrastructure or renewable energy, where planning and asset management skills transfer readily. Interim leadership on projects — from overseeing a REIT merger to guiding a corporate relocation — can also provide continuity and visibility when traditional roles are scarce.

Taken together, these ideas point towards a more expansive view of career strategy. Success may no longer be about climbing a familiar ladder rung by rung, but about re-positioning entirely: thinking bigger, working with the right partners, and cultivating skills that will outlast the present cycle. The choices made now, in a constrained market, will shape who emerges strongest when momentum returns.

The UK property market will recover in time; it always has. But careers cannot be left to follow the cycle passively. For those prepared to set bolder goals, to build alliances that accelerate progress, and to invest in capabilities that remain valuable across decades, the current environment is a period to redefine.