IPD has just released the results of the US Annual Index which reports a second consecutive year of declining commercial real estate values, and the worst on record. Capital values dropped another -22.4% to December 2009, taking the total return for the year to -17.1%. Combined with an -11.9% drop in values during 2008 the total decline in US real estate values sits at -31.7% from the peak at December 2007.

See the full report here.