Sales of major commercial properties fell 49 percent globally to $306 billion in the first six months of 2008 from the same period last year. Sales in developed countries were hit hard by slowing economies and the credit crisis.
Changes in the capital flows for
commercial real estate emerged in the first 6 months of 2008 as Tokyo
surpassed London and New York as the most active sales market.
Activity slowed in most Western nations while Brazil, Russia, India and China, (as well as the majority of other emerging markets) showed gains.