New York is the biggest real estate investment market in the world — for the third year running, a new report from Cushman & Wakefield shows.
The metropolitan area saw commercial property investments rise 39 percent, to $49.2 billion, from the start of 2012’s third quarter and the end of this year’s second quarter. London took second place, with a 6 percent increase to $32.3 billion. New York is the dominant investor in multifamily and hospitality sectors; London is tops for offices.
The top 25 global cities’ market share grew from 53 percent to 55 percent in the first half of the year. Investors might seek new opportunities, though, considering the market share is down from 58 percent in the first quarter to 50 percent in the second quarter, the annual report pointed out.
“Assuming the U.S. recovery continues to gain traction helping confidence and growth across all economies, we anticipate that next year will be favorable for much of the market as stimulus measures and recovery spark an appreciation in capital values for good quality space with strong occupier demand,” Carlo Barel di Sant’Albano, Cushman & Wakefield executive chairman, said in a release. — Mark Maurer