Globally, real estate transaction volumes totaled $187 billion during first quarter 2021, marking a 13 percent decline year-on-year, reported JLL. Appetite for core and core-plus product persists, but demand is increasing for opportunistic plays in stable segments of the market.
Momentum in global office markets remains subdued, with first quarter 2021 leasing volumes down 31 percent on first quarter 2020. However, there are now tentative signs of an improving outlook, with leasing activity in some countries, including China, back above pre-pandemic levels. Retail and hospitality, the two sectors most directly impacted by social restrictions, are continuing to face challenges. The logistics sector, the standout performer throughout the pandemic, maintained its robust growth in the first quarter.
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