Commercial Property Price Index®
Pan-European Commercial Property Price Index
Property Prices Decline, But the End is Near
Newport Beach, CA, December 6, 2023 — The Green Street Commercial Property Price Index® decreased by 3.0% in November. The all-property index—a measure of pricing for institutional-quality commercial real estate—is down 22% from its March ’22 peak.
“The rise in bond yields that occurred in September and October essentially froze the transaction market,” said Peter Rothemund, Co-Head of Strategic Research at Green Street. “The good news is that bonds have staged an epic rally since, and commercial property is now fairly priced vs. corporate bonds. Property pricing may well have hit bottom.”
Learn more about the changes to our Commercial Property Price Index®
Green Street Commercial Property Price Index®
Green Street Commercial Property Price Index
Indexed to 100 in August 2007
Indexed to 100 in September 2007
All Property CPPI® weights: retail (20%), office (17.5%), apartment (15%), health care (15%), industrial (10%), lodging (7.5%), net lease (5%), self-storage (5%), manufactured home park (2.5%), and student housing (2.5%). Retail is mall (50%) and strip retail (50%).
Core Sector CPPI® weights: apartment (25%), industrial (25%), office (25%), and retail (25%).
Change in Commercial Property Values
Amount property values have increased over this period
December 6, 2023