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 new data by CBRE, commercial real estate investment volume in Japan fell by 9% year-over-year to JPY 945.0 billion in Q3 3023, largely because of an 80% decline in investment by foreign investors.