in the first three quarters of this year, the turnover of commercial real estate in the Asia-Pacific region has recorded US$128 billion, the highest in history
The bank’s latest global financial flow report pointed out that the total transaction volume in the third quarter of this year increased by 18% year-on-year to 42 billion US dollars, the best-performing third quarter, an increase of 10% over last year. In the first three quarters of this year, the performance of the Asia Pacific region was significant, and the increase was only 1% higher than the global average turnover.
The bank believes that investment in the fourth quarter will rise further and it is expected that commercial real estate investment in the Asia Pacific region will increase by 13% year-on-year
Stuart Crow, chief executive of Jones Lang LaSalle’s Asia Pacific Capital Markets Division, said that in Asian cities, Seoul recorded $15.4 billion in real estate transactions in the first three quarters of this year.
The turnover in the Asia-Pacific region has risen, benefiting from the fact that China’s trading volume has remained active. Another factor is the steady recovery of Singapore
The turnover since the beginning of the year has maintained a record high. Crow continued, the first three quarters of this year, the Asia-Pacific market is the largest source of funds for cross-border investment, Singapore, South Korea and Hong Kong ranked among the top ten investors in the world.