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.
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.
Global house price growth ticked up to 3% in Q2 of 2023, up from 2.9% in the previous quarter. About a third of markets saw prices decline during the most recent three months, narrowing from four in ten over the past year.
According to a new report by CBRE, global cross-regional capital flows totaled $30.5 billion in H1 2023, down by 52% from H1 2022 and the second consecutive half-year period with an approximate 50% decrease in volume.