Pricing across a variety of property sectors remained flat in January, according to the Green Street Commercial Property Price Index—with the surprising exception of the hotel asset class, which posted unexpected improvements in valuation.
Green Street's total price index increased by 1.1% in January, an uptick that reflects higher valuations for hotel properties and stagnation in other property sectors. The all-property index remains 7% below pre-pandemic levels.
Peter Rothemund, managing director at Green Street says that when transactions do start "we expect to see more upside surprises than the other way around," and that uncertainty around pricing should clear over the next few months as dealmaking increases.
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