Commercial real estate index falls for the first time in 13 years

 

According to a report by MSCI Real Assets, an index for commercial properties declined 0.5% in Q4 compared to the previous three months.  The index has seen a decline for the first time in 13 years.  MSCI Real Assets' report analyzes 18 metro areas in North America, Asia, Australia, and Europe.  The last time this index saw a negative quarterly change was in 2009, towards the end of the Global Financial Crisis.  In 2022, San Jose and Manhattan prices saw the most significant decline of 7.5% and 7.2%, respectively.  Global investments in the commercial real estate industry dropped 22% in 2022, with central Boston seeing a 62% decline.