Global investment in real estate is at its highest since 2007, powered by a global crush on US and New York City real estate, a new report by CBRE says.
The Big Apple attracted a staggering $40.1B in investments in the first half of 2015, 10% of the $407B total. The second-biggest market was London, which still trailed far behind with $19.4B. Los Angeles was a close third with $19.3B.
"The influence of global capital is growing to the point that these investors are becoming the 'market-maker' in setting the price in the most desired and liquid markets across the globe," Global President of Capital Markets at CBRE Chris Ludeman says.
Part of the growth came from a flurry of trophy deals this year, like the record-breaking $2B Waldorf-Astoria sale. Altogether, the US attracted $222.4B in investments while the global total saw a 14% uptick.
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