In the third quarter of 2023, global commercial property prices continued to decline as investment activity decreased in most markets, according to MSCI Real Assets. However, there has been a significant slowdown in the pace of price drops in recent months.
The Q3 Global Cities Composite Index showed a 4.5% decrease from the previous year. This marks an improvement compared to Q2’s decline and suggests that the fall in commercial property prices is currently decelerating.
This trend was observed across North America and Europe, while Asia Pacific saw an increase in price declines during this period due to starting later than other regions.
Among global cities, Hong Kong experienced the largest quarterly drop at 3.8%. On a positive note, Toronto was the only city where prices continued to rise according to MSCI Real Assets’ report.
Overall, despite ongoing declines globally for commercial property prices, there are signs that these decreases may be slowing down based on recent data analysis by MSCI Real Assets.
