On June 4th, Schroders Global Investment stated that despite the high interest rates in recent years putting pressure on stock valuations, investors should not overlook property assets benefiting from thematic growth, as they are expected to provide attractive capital returns and real income. Generally, real estate investors can benefit from rising inflation, partly due to increases in construction materials or labor costs leading to a slowdown in new construction projects, thereby increasing the value of existing properties. However, the value of many types of properties is directly linked to inflation. Lease contracts for different types of real estate projects can specify rent increases linked to inflation. Some lease contracts also include fixed rent escalation clauses or provisions for rent adjustments at specified times, thus these clauses can provide investors with real returns higher than inflation. The increasing demand for urban living has led to rising rents, benefiting property categories such as apartments. However, not all types of real estate projects are the same, and investors need to closely monitor the type of properties they are investing in. Some real estate projects, such as residential and hospitals, are essential items. Other types of real estate projects benefit from strong demand and limited supply, such as student dormitories or data centers. For example, in the case of data centers, assessing the growth of this property category through observing trends in electricity consumption, data reflects a strong growth outlook for the data center market in the future. On the other hand, some property categories are less important and/or currently have weak demand. Therefore, while trends favoring e-commerce and remote work due to the COVID-19 pandemic have been beneficial for industrial property markets such as logistics, they have also weakened demand for many shops and offices, affecting their pricing power (i.e., the ability of landlords to pass on inflation pressure to tenants through rent increases). Nonetheless, urbanization remains a persistent structural trend, with residential demand in cities reaching historic highs and rents rising, benefiting property categories such as apartments. In fact, the high cost of housing is one of the reasons why overall economic inflation in the United States is difficult to contain. The decline in interest rates is driving up real estate valuations, and data centers are a rapidly growing category Investors can capitalize on the trend of declining interest rates leading to an increase in real estate valuations by investing in various types of real estate projects, including self-service mini-storage, prefabricated homes, industrial properties, and other fast-growing digital economy-related property asset categories. Of course, data centers are among the rapidly growing categories. Before artificial intelligence is widely used, it also relies on the cloud computing storage capacity required by data center remote hosting. However, the electricity supply of major city data centers is also struggling to keep up with demand. The potential growth scale of data centers has always been a hot topic in the industry. Market experts estimate that by 2030, the total electricity demand in the United States could reach 35 gigawatts, more than double the growth from 17 gigawatts in 2022. These structural growth trends explain why listed real estate can provide investors with attractive stock returns and capital growth opportunities.