More than 50 percent of recent global investment in commercial property has been allocated within just 30 cities worldwide, Reuters reported, including New York, Hong Kong, London and Paris.
But the restriction of investments to key global urban centers may not continue for long, according to Jones Lang LaSalle, which said emerging markets such as Mexico City, Delhi, Houston and Istanbul were likely to become contenders for investment dollars in the near future.
Despite the evolution of primary markets however, Jeremy Kelly, director of global research for JLL, said the U.S. is likely to retain its spot as the most likely country to attract investment.
“While the Asian/Pacific story is very compelling, and many real estate players are focusing on the growth opportunities there, we shouldn’t forget the chunkiness, size and growth potential of many U.S. cities,” he said. “They are among the most innovative, and they are huge cities. Eleven of the top 30 in 2020 will be in the United States.” [Reuters]