The data is based on research by real estate consultancy JLL. Cross-border investment refers to investment in real estate made by an investor outside their home country.

For comparison, according to data from financial and analytics company MSCI, overall real estate investment transactions globally rose just 10% year-on-year over the same period, reaching $604.6 billion.

According to Reuters, the increase in cross-border investment was driven by more deals in Asia and Europe, including transactions involving premium office properties.

JLL data showed that international investment in property in Asia increased fourfold to $19.3 billion, while in Europe it rose 31% to $39.9 billion.

Singapore ranked first globally for cross-border commercial property investment, with cross-border transaction volumes reaching $8.7 billion.

“There was a re-emergence of the office sector,” Fraser Bowen, a director in JLL’s capital markets business, told Reuters. He added that international investors were particularly active in major European cities, including London and Milan.

Soaring borrowing costs will likely weigh down the rate-sensitive ​sector in the second half of the year, ⁠Bowen ​said. “Our volumes are always pretty ​well correlated to interest rates,” he said.

Source: Reuters

Author: Lika Kasradze

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