London commercial property still most traded in the world
19 August 2015, Blog
According to research published by DTZ, the global commercial real estate services adviser, global investment in commercial property in the first half of 2015 was 15% higher than the same period in 2014 – with London retaining its position as the most traded market.
At the city level over $39bn was traded in London in the last 12 months, 7% higher than the previous period and in comparison to the next highest, Manhattan, with $28bn and San Francisco at $21bn.
Nigel Almond, head of capital markets research at DTZ, said: “London retains its position as the leading city for attracting inter-regional investment, equivalent to nearly two-thirds of all investment in the past 12 months. The volume is similar to the inter-regional total for the next four leading cities of Manhattan, San Francisco, Chicago and Los Angeles combined.”
Almond added: “Continued demand for real estate will see global investment volumes this year increase by 22% to reach levels close to their previous 2007 peak of $791bn.”
Global growth masks regional differences; over the last 12 months European volumes rose by 23% to $274bn and in North America volumes increased by 18% to $311bn, however Asia Pacific was 7% lower at $90bn.