By Simon Mallinson on November 12th, 2018
New York has cemented its position as the largest global metro market for commercial real estate in 2018 so far. Transactions of income-producing assets in the New York metro increased 32% in the first nine months versus the same period last year, following a rebound in the office and hotel sectors.
London kept its number three position in the ranking, with 4% year-over-year growth in volume. Despite recording an 18% increase in activity for the year to date, Paris dropped down the rankings to the number 10 spot from the number four position in 2017.
Hong Kong jumped to the global fourth spot for the year to date, from eighth in 2017 and 15th in 2016. Seoul was one of the biggest movers, debuting in the global top 10 at number nine. Tokyo went in the opposite direction, falling out of the top 10 for the first time.
Investors continue to focus on key global gateway markets. The top five metros accounted for over 20% of income-producing asset volume in the first three quarters of 2018.
This data first appeared in RCA’s Global Capital Trends report, published Nov. 7. Interested to learn more about RCA’s global transaction data? It’s easy to ask for information.