The Top 10 Cities Globally for Commercial Real Estate
The ebbs and flows of the global economy is hard to predict, but some things stay consistent. For the past couple of years, the cities who show the most growth and potential for businesses to setup shop have remained fairly predictable. This is for good reason, though, you want to go where the money is, where the investors are concentrating on, and where technology and innovation are king.
The U.S. stays at the top of the charts for more commercially viable real estate, we think they’ll stay that way for quite some time, as the US economy shows the signs of growth. The United Kingdom follows behind, which comes as no surprise, as they still invest heavily in their infrastructures, making it very attractive for businesses looking for modern office space developments.
The weakened U.S. economy has made foreign commercial investors excited to grab all the cheap property up and take the place of crumbling small businesses. The U.S. is particularly attractive to China, with their booming middle class and upper class, they are grabbing large swathes of land in places like California, Florida, and Texas, where the real estate markets are weaker.
The Movers and Shakers
Forecasts do put China and Brazil as the top dogs for the upcoming years, though. The commercial and economic growth is not slowing down anytime soon for either country.
Tokyo making its way up to the number three spot on our list comes as surprise to some, as they previously ranked in at number fifteen. Just like London, the attractiveness of world-class office space in the world’s biggest cities is hard to ignore.
While the top 10 cities for global commercial real estate is still dominated by the U.S., there is little doubt that we’ll see a much different picture next year, as we are already witness explosive growth in the first half of the year. The need for commercial real estate only gets bigger every year, and investors are clamoring for more low interest property that can keep up with their growth.
More new markets are expanding, like the marijuana industry and the future of crowd-funded businesses. Decentralized business operations are the future and local businesses are trying to go global, so look for these trends to continue to reshape the commercial real estate landscape as we know it.
Without further ado, here is the complete Top 10 list of cities for commercial real estate opportunities around the Globe:
New York, US
Los Angeles, US
San Francisco, US
Washington, D.C., US
Hong Kong, China