Commercial property investment reached £799m in the West Midlands in the third quarter of 2013, according to research.
The figures have contributed to total regional investment across the UK of £3.71bn – the highest level since the first quarter of 2011.
Significant deals in the West Midlands included Gracechurch Shopping Centre in Sutton Coldfield, Mell Square in Solihull, and 1 Brindleyplace Birmingham.
Adam Ramshaw, head of the Birmingham office for Lambert Smith Hampton, which compiled the figures, said: “Over the last two quarters there has been an increase in regional investment and investment has already outstripped the 2012 total. Increasing confidence should feed through to the markets as companies look to move or upgrade premises.
“Improvements in the economy should also encourage investors to take on more risk as they see a greater upside in terms of rental growth and the ability to enhance returns through refurbishment, redevelopment and speculative development.”