Global commercial real estate sales climbed by 43 per cent last year as a growing number of purchases of development sites buoyed the world's markets, the latest research from Real Capital Analytics (RCA) has shown.
The consultancy added that China attracted the most real estate investment for the second year in succession with USD 197.1 billion transacted, Business Week reported. About 95 per cent of investments in Chinese real estate last year were land deals for development projects, according to RCA.
That figure represented 34 per cent of the USD 582 billion of worldwide deals, down by 41 per cent compared to the previous year as cooling measures introduced by the Chinese government took hold.
Increased sales of offices, malls, warehouses, hotels, condominiums and land lifted the value of global deals to the highest since 2007’s record of USD 1.23 trillion.
Meanwhile, RCA said that London led the world last year for investments in existing buildings, with a total of USD 23.9 billion.