By Tom Leahy on February 9th, 2021
Just one of the top 15 most active global commercial real estate markets recorded an increase in sales volume in 2020 versus 2019. For the rest, the picture was one of falling transaction activity as the Covid-19 pandemic hampered dealmaking and soured the outlook for some commercial property types.
In Seoul, volume crept up to an all-time high as domestic investors refocused on their home market. The Korean capital became the world’s largest retail transaction market in 2020 and second largest office market, behind Paris.
Paris remained the number one European market. On a relative basis, transaction activity in London held up well. A couple of supersized deals boosted apartment investment to a record amount, though annual office investment fell to the lowest level since 2009.
The New York metro retained its status as the world’s largest market, based on transactions $10 million and greater, even as deal activity fell by 41% versus 2019.
A version of this article first appeared in the 2020 Year in Review edition of Global Capital Trends, released Feb. 4. Clients of Real Capital Analytics <<click here>> to download the latest report and data file from the RCA website.
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