Based on new data by Kate Everett-Allen, head of international residential research at Knight Frank, despite 2 regional wars, rising mortgage rates and inflation, global economies have displayed surprising resilience, with recent inflation figures suggesting a turning point.
According to new research by Knight Frank, global super-prime ($10m+) residential sales fell 2.4% in Q3 2023 on a year-on-year basis, with 362 sales across the 12 markets covered in the three months to September compared to 371 in the same period last year.
According to JLL, commercial real estate investment activity in Asia Pacific declined 22% year-on-year in the third quarter of 2023, recording the lowest quarterly figure since Q2 2010.
Global commercial real estate investment declined by 51% year-over-year in Q3 to $142 billion. Investment fell by 53% in the Americas, 54% in Europe and 31% in Asia-Pacific. Rising interest rates in many countries contributed to the significant drop of investment activity.
According to a new retail report released by JLL, Hong Kong's retail rents are unlikely to return to their historical market peaks in the coming five years due to the six key challenges ahead.
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