Commercial Property Price Index®
Pan-European Commercial Property Price Index
Property Prices Continue to Decline
Newport Beach, CA, September 7, 2023 — The Green Street Commercial Property Price Index® decreased 0.6% in August. The all-property index—a measure of pricing for institutional-quality commercial real estate—is down 16% from its March ’22 peak.
“Transaction volume has improved, and there’s now pretty good visibility on pricing,” said Peter Rothemund, Co-Head of Strategic Research at Green Street. “On average, prices are down about 15% from their ’22 peak. However, interest rates have been rising—the yield on the 10-year Treasury is now almost 4.3%—and prospective buyers will be lowering their bids. Sellers are usually reluctant to accept lower prices, so deal activity may get quiet for a bit.”
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
September 7, 2023