---
title: "Yield shift — Class A Atlas glossary"
description: "Change in market cap rates; the largest valuation driver."
canonical: https://classa.info/glossary/yield-shift
pageType: glossary
lastUpdated: 2026-04-01T00:00:00.000Z
license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)."
---

> Change in market cap rates; the largest valuation driver.

## TL;DR

- Change in market cap rates; the largest valuation driver.
- A 50 bps cap-rate shift on a 5% yield asset is a 10% value swing.

# Yield shift

*Investment · Global*

## Short definition

Change in market cap rates; the largest valuation driver.

## Full definition

A 50 bps cap-rate shift on a 5% yield asset is a 10% value swing. Yield shift drove most of the 2022–24 valuation volatility in global [Class A](/glossary/class-a).

## Why this matters for Class A leasing

Yield shift is part of the investment vocabulary that institutional Class A occupiers, landlords, and advisers use across Global markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks regional variation alongside the global standard so [cross-border](/topics/cross-border-expansion) occupiers can translate quickly.

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Citation: Source: Class A Atlas (https://classa.info/glossary/yield-shift), updated 2026-04-01T00:00:00.000Z.