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.
Asia Pacific electric vehicle (EV) sales have seen exponential growth in the past two years, accounting for nearly two-thirds of global auto sales. The soaring demand for charging facilities across the region provides the opportunity for commercial real estate owners to enhance their assets with EV charging installations.
According to new CBRE research, institutional investors are attracted to prime hotel assets in tier one markets across Asia Pacific, even though tourist arrivals in key destinations are only reaching 70-80% of pre-pandemic levels.
Posted on October 20, 2023
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