MSCI REAL CAPITAL ANALYTICS CPPI
• The US National All-Property Price Index, which produces a weighted measure of commercial real
estate prices, rose by 17.9% over the year ending April 2022, according to MSCI Real Capital Analytics
(MSCI RCA). Month-over-month, prices rose 0.5%, which would convert to a 6.3% annualized growth
rate — a sign that some price growth momentum is slowing.
• Industrial properties experienced the fastest annual rise in prices among the major property sectors,
climbing by 26.0% year-over-year. Industrial also saw the fastest month-over-month appreciation in
April, rising 1.3% (17.0% annualized growth rate).
• Apartment prices were close behind, growing 23.0% year-over-year. Month-over-month, apartment
prices also grew by about 1.3% in April (16.6% annualized growth rate)
• Retail and Office asset prices are up 18.4% and 11.8% year-over-year, respectively. The only sub-index in
the MSCI reporting to see an increase in its year-over-year growth rate for April was Central Business
District Office properties (12.3%)