Global CRE Investment Sales Down 31% Year-Over-Year
Global commercial real estate investment fell by 31% year-over-year to US$184 billion in the first quarter, with U.S. volume down 28% Y-O-Y, CBRE’s Richard Barkham reported Friday. On a trailing 12-month basis, volume was down by 33% from a year ago.
Markets remained soft compared with 2019 but recovery is well underway in the Asia Pacific (APAC) region, where Q1 volume increased by 6% year-over-year. Within APAC, many markets, including China, Korea, Taiwan and India, recorded a stronger Q1 than the five-year average between 2015 and 2019. Q1’s Y-O-Y growth exceeded 50% in Taiwan, Australia, Singapore and India, offsetting softness in markets such as Japan and Hong Kong.
Countries with the highest vaccination rates, namely the U.S. and U.K., outperformed their peers in Q1 investment volume. Based on the current pace of immunization and the broader economic recovery, CBRE projected investment nearing pre-pandemic levels in 2021’s second half.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!