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November 14th, 2011

At $39.8B, NYC is No.1 in Global Property Sales

New York City’s real estate market has recaptured the top spot among cities around the globe ranked by the dollar volume of sales, a distinction the city hasn’t held since 2006, a new report found.

The city attracted the most commercial property investment worldwide with a total of $39.8 billion recorded in the past 12 months, according to a new report by Savills, a real estate services firm.

The total amount invested in New York City commercial real estate soared 165% over the level of the previous 12-month span. That was enough to edge out runner-up London, where sales totaled $34.9 billion. Beijing, Shanghai and Tokyo rounded out the top five on the list.

At $39.8B, NYC is No.1 in Global Property Sales

At $39.8B, NYC is No.1 in Global Property Sales (PDF)

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