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At first glance, a league table ranking the 50 global cities that attracted the most investment in the first half of 2019 looks pretty clear-cut. The US leads the way with New York, San Francisco and Los Angeles sitting comfortably in the top three spots, with London, Paris and Hong Kong following not far behind. But when the data, compiled by Real Capital Analytics, is compared with figures for the same period in 2018, it tells a different story – particularly for some of the leading metropolises.
Even though London remains one of the most invested in cities, funds flowing into the UK capital fell by nearly 34% – from $19.2bn (£15.6bn) to $12.3bn – between H1 2018 and H2 2019. A large chunk of this decline was made up by a 44% fall in overseas investment from $13.5bn to $7.4bn.
North American cities were the biggest losers when it came to overseas investment in the first half of 2019, making up all of the top 10 global cities with the biggest drop-off in overseas investment. Nashville topped the chart with just 12% of the overseas investment it had in H1 2018 being ploughed into the city in in H1 2019, with LA rounding up the top 10 with overseas investment almost halving.
Tom Leahy, senior director at Real Capital Analytics, said: “The drop-off in investment in the top global cities echoes a wider trend. The greater geopolitical uncertainty and record high prices have led to greater caution and something of a stand-off between prospective buyers and owners.”
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