According to a recent report from Green Street, the Commercial Property Price Index on Green Street’s Newport Beach, CA-based research and advisory firm remained steady in July. So far this year, the all-property index has seen a 1.7% increase and is currently about 20% lower than its peak in March of 2022.
Peter Rothemund, co-head of strategic research at Green Street stated that it seems like the decline in property prices has come to an end as values have stabilized throughout this year. He also noted that most property types are now valued slightly higher than they were at the beginning of the year.
In terms of monthly changes, pricing for all property types showed no change. However, when compared to last year’s numbers there was an overall decrease of 5%. This varied across different sectors with apartments seeing only a -2% decline while self-storage experienced the largest drop at -13%. Industrial properties saw a Y-O-Y decrease of -10%, followed by office and healthcare both showing declines at -9%.
