Silicon Valley, NYC Real Estate Sag as 13-Year Global Rally Ends
February 9, 2023 | John Gittelsohn | Bloomberg
Global commercial real estate prices slipped late last year, the first quarterly decline since 2009.
An index of office, industrial and retail properties fell 0.5% in the fourth quarter from the previous three months, breaking a 13-year streak of gains, MSCI Real Assets said in a report Thursday that analyzed 18 metro areas in North America, Asia, Australia and Europe. The last period of negative quarterly change was in late 2009, toward the end of the Global Financial Crisis, according to the report.
