Real estate investment activity in Europe and Asia Pacific during the third quarter reached levels not seen since the previous peak, with cross-border investment playing a significant role.

Based on CBRE’s preliminary figures, investment turnover in Asia Pacific rose 20 percent quarter-on-quarter in third quarter 2015 to $25.6 billion, despite the year-to-date investment volume being down 24 percent compared with the same period in 2014.

Cross-border investment in Asia Pacific accounted for 36 percent of total turnover in the first three quarters of this year — rising 36 percent quarter-on-quarter to $10.6 billion in the third quarter, marking the highest total recorded since 2008, according to a report from CBRE.

Investor interest remained upbeat in Australia and Japan, with these two markets accounting for 56 percent of total regional turnover in the quarter. Asian capital was particularly active in the Pacific. Australia, especially the markets of Sydney