New York is the biggest global investment market for property the second year running, according to Cushman & Wakefield. Investment volumes increased in the city by 18.9 percent over the year to June 2012, to a total US$34.7 billion.
According to Cushman & Wakefield’s Winning in growth cities report, volume in New York is 18 percent above that of its nearest rival, London.
London saw a 3.8 percent increase in investment volume over the period, to a total $29.3 billion. The report says London overtook New York in the hotel investment stakes over 2012, which it attributes to the Olympics. London is ranked as the biggest global office ($17 billion) and hotel ($3.5 billion) investment market.
New York is the biggest residential investment market, unchanged from 2011, with volume recorded at $9.5 billion.
And at $3.8 billion, Los Angeles is the top industrial investment market. North America comprised 15 of the 25 top industrial investment locales. But the report says that there have been signs North America is ‘beginning to lose ground to increasingly-competitive Asia Pacific’, for industrial.
Hong Kong’s retail investment volumes, $8.6 billion, were biggest globally. The report says overall retail volumes were down 1.1 percent compared to 2011 results.
Shanghai is the biggest global investment market for development sites ($15.6 billion). Of the top 25 destinations in the report for investment in development sites, all are located in the Asia Pacific. The report says the rankings are largely unchanged from 2011, but trading volumes are down 21 percent.
By sector, the global office market recorded the highest investment volumes, a 43.5 percent share of the total. This represents an increase of 2.3 percent over the 12 months to June 2012.
Guangzhou, China, was ranked as the fastest growing investment market. Investment volumes almost doubled in the city over the 12 months to June 2012.
View the Cushman & Wakefield report