New York City remains the top city in the world for commercial real estate investment, according to a midyear review published by research and data firm Real Capital Analytics.
Investor’s Business Daily reported that New York City’s allure for international investors kept sitting comfortable in the number one spot in terms of commercial real estate volume in the first half of 2015. Sales volume totaled $36.8 billion, up 59 percent from last year. London followed in second place at $29.7 billion, up 48 percent from last year.
Many US cities made substantial gains in volume, with Los Angeles, San Francisco, Chicago and Washington, DC all included in the top 10 list. Meanwhile other major international markets, including Tokyo, Paris and Hong Kong, saw declines in the first six months of the year.
The report also found that income producing real estate transactions grew 17 percent globally to $420.3 billion. Worldwide, apartment investments were up 40 percent in the first half of the year compared to the prior year. This was followed by hotels, which were up 36 percent and industrial, which was up 29 percent.