Global property investment rose 16% in the year to June and now stands at its highest since 2008, just 13% below the pre-crisis peak. New York and London hold on to the top spots as the world’s most sought after cities. According to a report published by Cushman & Wakefield, investment volumes rose to $942.8bn (£621.4bn) in the year to June.
The property advisory group predicts global volumes for the current year to rise by 17% to hit a new record high of $1.1trillion, driven by investors targeting North America and Europe. New York kept the top spot for the fifth consecutive year, with volumes growing by 36.2% year-on-year to $74.8bn.
In second place, London investment volumes surged by 13.4% from $48.7bn to $55.2bn, taking its market share to 5.9%.
