RCA in the commercial property press:

Istanbul Ranks Highly in PwC's Capital-Destination Survey

Bloomberg - Businessweek reports: In the latest issue of its Global Capital Trends, the 2010 Year in Review edition, Real Capital Analytics provided a global ranking by market for investment into existing commercial real estate. London topped the list with $23.9 billion in sales during 2010, followed by Tokyo and New York City as distant runners-up. London’s position reflected the UK’s declining currency and encouraging fundamentals outlook, which encouraged both domestic and cross-border investors to target the market.

Acknowledging this ranking, a recent article on Bloomberg aired findings from another year-end ranking by market done by PricewaterhouseCoopers (PwC) in cooperation with the Urban Land Institute. In that report, PwC found that Istanbul has become the “best place in Europe to buy of develop property as Turkey’s economic growth contrasts with declines across much of the region,” according to the survey’s 600 respondents.

In the PwC report, London and Munich were also highly rated by the respondent real estate professionals, while Athens and Dublin fell at the bottom of the list on account of their respective nations’ poor economies and prospects for growth.

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Posted by: Nina Turner

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