Market Data

International Beat

London's Big Deal

London’s 30 St. Mary Axe building, nicknamed the Gherkin, sold in November 2014 to the Brazilian private investment company Safra Group, for a reported $1.1 billion, making it 2014’s largest private investor transaction, according to Knight Frank’s 2015 Wealth Report. Private investors accounted for $153 billion of the $619 billion of commercial real estate sold worldwide in 2014, competing with institutional buyers in both major and smaller markets.

“In the U.S., 41 percent indicated that their international clients were from Asian countries, 22.5 percent came from Europe, 21 percent from Latin America, and 20 percent from the Middle East.”
—“Cross Border Demand and Investment,” a survey of 3,000 Realtors from IREM, CCIM Institute, and the Canadian Real Estate Association

Markets to Watch

Global office rents rose 7 percent in 2014, according to Cushman & Wakefield, with Dublin, Ireland, showing the largest rent growth at 26.5 percent, followed by Bogota, Colombia, at 26.2 percent.

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