PRINCETON, NJ-It may not surprise anyone that New York City is the most expensive retail market in the US, but it ranks only fourth in North America, behind Montreal, Vancouver and Toronto, according to NAI Global’s 2011 Global Property Prices & Trends report. The locally based firm is headed up by Jeffrey M. Finn.
San Francisco ranks fifth in the most expensive retail listings, but tops the industrial/warehouse list. Following San Francisco in the industrial market are Vancouver, BC; San Diego; Washington, DC; and Orange County, CA. Behind New York in office rents are Washington, DC; Miami’ Montreal; and Vancouver, BC.
In other interesting comparisons, Nassau ties with Sao Paolo as the most expensive industrial market in Latin America, with rents of approximately $150 per square meter per year. Sao Paolo tops the list of retail and office markets in the area, followed by Rio de Janeiro.
In Europe, the Middle East and Africa, London tops the list of priciest markets in all sectors, with the next most expensive retail markets listed as Paris, Rome, Zurich and Milan. The office list is quite different with London followed by Geneva, Dubai, Paris and Moscow. The industrial market list sees London followed by Doha City, Dubai, Stockholm and Dublin.
Asia’s lists are dominated by Hong Kong, the most expensive office and retail market, and the second most expensive warehouse market behind Tokyo. Following Hong Kong in the office sector are Tokyo, Mumbai, New Delhi and Singapore, while the next most expensive retail markets are Sydney, Tokyo, Singapore and Seoul. Following Tokyo and Hong Kong in the industrial/warehouse arena are New Delhi, Melbourne, Australia and Singapore.
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