PROPERTY

PROPERTY Prices of commercial property (adjusted for consumer-price inflation) rose in almost all the world's big cities in the past five years. But Tokyo's once astronomical propety prices plummeted, losing roughly 10% per year. At the other end of the spectrum, prices in Dublin continued to rocket, as Ireland's economic boom moved into full swing: prices nearly doubled in the past two years alone. Property prices in Zurich returned to 1997 levels last year after a slight slip in the previous year. In Brussels they became 6% more expensive in 1999 after three years of stability. Preparations for this month's Olympics have failed to boost valuations much in Sydney; prices rose only 12% during the five years covered in the report.