Have Low Interest Rates Created a Commercial Real Estate Bubble? Yes, Say Real Estate Execs
September 24, 2014Have Low Interest Rates Created a Commercial Real Estate Bubble? Yes, Say Real Estate Execs, With Growing Confidence
With increasing confidence, New York property executives think an asset bubble is forming in New York City’s commercial real estate market. More than a third (37%) say they think low interest rates have created a bubble similar to the housing bubble of 2005-2007, according to the findings from the Summer 2014 Gotham Commercial Real Estate Monitor, a survey of 100 top-level New York City commercial real estate executives, including owners, brokers, agents, engineers, accountants and lawyers specializing in the commercial space. Despite these bubble concerns, however, most executives think that commercial property valuations aren't out of line -- at least when compared with other major global cities.
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