RCA Insights

Global Price Growth Ticks Higher as Asia Pacific Recovers

By on May 13th, 2021

The headline rate of global commercial property price growth quickened to a 4.7% annual pace in the first quarter of 2021, boosted by a recovery in prices in the Asia Pacific region, the latest RCA CPPI Global Cities report shows. Prices pushed higher in a majority of the 18 leading global metros which contribute to the RCA CPPI Global Cities Composite Index.

The price index for Asia Pacific metros gained 2.8% from a year ago. Seoul’s strong performance, increases in Singapore and Melbourne, and the bottoming out of Hong Kong’s declines helped push the regional index into positive territory. Prices in the region were flat or falling for the previous five quarters.

In the Americas, Boston, Los Angeles, Washington DC and Toronto posted gains above the North American Cities Composite level of 3.9% year-over-year. The European Cities Composite index posted the highest increase of the three regions, growing 7.2% annually. This growth was largely due to strong price gains in Paris and the German A Cities.

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