NYC remains global real estate kingpin
More investors than ever are taking bites of the Big Apple — at least in dollar terms.
New York City attracted the most commercial real estate investment during the past year, some $55.4 billion, a 7 percent global market share and an 11 percent increase over the previous 12 months, according to Cushman & Wakefield’s annual Winning in Growth Cities report. During the 12 months ending June 30, 2014, Gotham outdistanced London and Tokyo — which placed second and third in the ranking respectively — to retain its title as the world’s largest real estate investment market.
Overall, the global real estate investment market saw volume increase by 17.2 percent to $788 billion. While the usual gateway cities dominated the rankings, investment activity is spreading to an increasing number of global markets as investors relax their risk tolerance, the report notes. Researchers also found: