A total of $188.5 billion in outbound capital went into real estate in the 12 months to third quarter 2018, according to Knight Frank’s most recent Cross-Border Investor Dashboard, which cites data from Real Capital Analytics. Of that amount, $68.5 billion was from Europe, $67.9 billion from North America, $42.6 billion from Asia Pacific and $9.5 billion from the rest of the world.

At $48 billion, the majority of cross-border capital flows were from Europe to other parts of Europe during the 12 months to third quarter 2018. The remainder of Europe’s total $68.5 billion in outbound investment went to North America ($17 billion) and Asia Pacific ($3.3 billion).

All told, however, the United States received the largest influx of the $907.3 billion in global transaction volume in the same 12-month period, at $60 billion, followed by the United Kingdom ($26 billion) and Germany ($17 billion). Of North America’s $42.6 billion in cross-border capital, $29 billi