Where in the world are the most impressive property investment volumes?
Despite the current volatile global market, the world’s major cities have posted impressive property investment volumes in the 12 months to the second quarter of 2012, according to the Winning in Growth Cities 2012 study from Cushman & Wakefield. New York City lead the pack for the second year running. The Big Apple’s investment volumes rose 18.9% to US$34.7 billion in the said period, 18% above its nearest rival London.
1. New York Metro – $34.7 billion
The Big Apple also retained its position as the top destination for multi-family residential property investment
2. London Metro – $29.3 billion
The UK capital is the world’s largest office and hotel investment market, the latter no doubt boosted by the 2012 Summer Games. It is also the world’s largest market for cross-border investors.
3. Tokyo – $23.9 billion
The Japanese capital is Asia-Pacific’s most active city in terms of industrial investment, displacing Singapore.
4. Paris – $19.4 billion
The French capital is the second largest market for cross-border investors, third for offices and eighth for retail and hotels. It is also Europe’s leading city in terms of innovation.
5. Los Angeles Metro – $16.9 billion
The USA’s second largest city outpaced New York in terms of retail investment, posting transaction volumes of $3.9 billion. The city is also the world’s largest industrial investment market.
6. Hong Kong – $16.8 billion
The southern Chinese territory retained the top spot for retail sector investment boosted by the substantial US$2.4 billion sale of Festival Walk, an upscale Kowloon mall. Hong Kong also leads the Asia-Pacific region in hotel investment.
7. San Francisco Metro – $15.4 billion
Boosted by technology-driven growth, San Francisco is the world’s second largest market for industrial investment, fifth for multi-family residential property investment and third for hotel investment. The Bay Area is also the world’s second leading city in terms of innovation.
8. Washington DC Metro – $13.8 billion
Although the DC area is hampered by an uncertain outlook for government jobs in light of deficit-reduction plans, it remains the world’s second largest market for multi-family residential property investment.
9. Chicago – $10.7 billion
After New York, Chicago is the USA’s most connected city, an important factor in generating and sustaining business and leisure opportunities. It is also the world’s sixth largest market for retail and fifth in industrial property investments.
10. Toronto – $8.03 billion
The lone Canadian city to make the top 10, Toronto helped boost North American cities’ dominance in 2012. The US$1.2 billion sale of Toronto’s Scotia Plaza confirmed investors’ preference for well-located, multi-tenanted office space.