More Real Estate Executives Think Manhattan Commercial Real Estate Is Overvalued
January 6, 2015More Real Estate Executives Think Manhattan Commercial Real Estate Is Overvalued; Conviction Grows That an Asset Bubble Is Forming
Commercial real estate professionals say office rents will rise and foreign investment is a valuation driver, according to the latest Marks Paneth survey of New York’s commercial real estate market. Many professionals are also increasingly concerned that Manhattan commercial real estate is overvalued, and 37 percent think low interest rates have created a bubble, similar to the housing bubble of 2005-2007. These and other findings are among the results of the Fall 2014 Gotham Commercial Real Estate Monitor.
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