May 20, 2019
California claimed two of the top five slots on Real Capital Analytics’ (RCA) ranking of 18 major global business hubs. San Francisco was ranked No. 1 with a 14.1% year-over-year price change, while Los Angeles (8.2%) came in as the fifth top market in the latest RCA CPPI Global Cities report.
Global commercial property price growth continued to ease in Q1 2019, adjusting down from the double-digit annual growth rates seen as recently as a year ago.
RCA’s CRE economist Jim Costello wrote, “The slowing in price growth was not uniform across regions or cities, with the sharpest deceleration seen in the Asia Pacific region.”
He points out, price growth was still robust across several of the metro areas analyzed, with three posting increases at or greater than 10% year-over-year in the first quarter. Sydney and Boston posted declines from year ago. And although prices in the New York and London metros increased, Costello says, CBD prices slipped.
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