Global commercial real estate price growth accelerated in the third quarter of 2021, with the Asia Pacific region leading price gains, the latest RCA CPPI Global Cities report shows.
The RCA CPPI Global Cities Composite Index climbed 7.3% in the third quarter from a year ago, up from the 6.1% year-over-year pace seen the prior quarter and the 2.5% rate seen in the third quarter of 2020 amid the pandemic’s challenges.
The headline composite index for Asia Pacific rose 11.6% from a year ago, reflecting in part the dip in the region’s prices seen a year ago. Seoul led price growth, a shade ahead of Melbourne.
In the Americas, the composite index for the region rose 7.4% year-over-year. Commercial prices in the Los Angeles metro area were the fastest growing among the seven North American metros tracked.
The composite index for European cities gained 3.5% from a year prior, a small uptick from the price increases seen in the second quarter. No individual metro in the region had a pace of price growth that exceeded the Global Cities Composite.
To learn more about the data behind this article and what Real Capital Analytics has to offer, visit https://www.rcanalytics.com/.
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