The impact of higher interest rates is beginning to take its toll on commercial real estate prices. Commercial property prices have fallen nearly 13 percent so far this year, according to Green Street’s Commercial Property Price Index in October. The Index reports that commercial real estate prices were down 7.3 percent alone in October.
The index peaked in April 2022 after clawing its way back from the pandemic-induced recession in 2020, but it has been falling ever since. All types of commercial real estate asset prices are down, but some are doing better than others.
