Chicago Is A Top 10 Global Real Estate Investment Market
A confluence of young educated talent, a diverse economy, an ample supply of trophy assets and strong growth prospects propelled Chicago into a top 10 global real estate investment market. Chicago has $300B in investable real estate, according to research from CBRE, placing the City of Big Shoulders seventh globally and fourth nationally.
CBRE analyzed the relationship between city market size and capital flows into real estate for 122 cities around the world, and found there is a high correlation between the size of a city’s real estate stock and the volume of investment into that city. Executive Vice President Blake Johnson said Chicago's economy added 48,000 new office using jobs since 2011, and the combination of a young worker pool, high-end product and a diverse economy resulted in increased interest in trophy assets from domestic and foreign investors.
Tokyo topped the list with $711B in investable real estate, followed by New York City ($657B) and Los Angeles ($482B). The global stock of investable real estate stands at $27.5 trillion. The top five U.S. markets — New York City, Los Angeles, San Francisco, Chicago and Houston — account for $2 trillion.